0
During the bankruptcy period you cannot borrow any money at all and not even operate a bank account properley. Once discharged (now 12 months) you are legally able to apply for credit as normal (although you must declare you were bankrupt by law). The chances of getting a mortgage however are slim to say the least. All lenders and brokers will see from your credit and the bankruptcy register that you have been bankrupt and are unlikely to lend you to for perhaps up to 7 years. However, there are specialist morgage providers who would be prepared to consider a mortgage application from former bankrupt people, although the risk is clearly evident in the high APR that will be quoted. By finding a good mortgage broker it is possible to get a mortgage but deposit, loan to value ratio and interest will all be at a disadvantage to the applicant.
Wiki User
∙ 16y ago
Wiki User
∙ 9y agoA dismissed bankruptcy will affect your credit, but not severely. It may only lower it by a couple points or so.
Wiki User
∙ 8y agoWiki User
∙ 10y agoBankruptcy hurts credit because it creates a negative reputation for someone. It shows creditors that someone is not able to pay off their debts. It can hurt credit for about 10 years.
Add your answer:
Earn +20 pts
If a bankruptcy is dismissed can you have it removed from your credit?
Yes. I tried to remove a dismissed bankruptcy from my credit report. All agencys were contacted and so was the FTC. They said they had a legal right to keep the Bankruptcy dismissal information on the bureaus files.
How do you remove a dismissed chapter thirteen bankruptcy from a credit report?
You can't. A valid entry for a dismissed chapter 13 bankruptcy will remain on a credit report for seven years from the date of dismissal.
How long will a dismissed bankruptcy stay on your credit?
:A bankruptcy under chapter 7 or 11, or a non-discharged or dismissed chapter 13 bankruptcy generally remains on your credit file for 10 years from the date filed. A discharged chapter 13 bankruptcy generally remains on your credit file for 7 years from the date filed.
Can you buy a car after chapter 13 dismissed?
Dismissed or completed? If it were dismissed, your credit report will show that you filed for bankruptcy. Obviously, if you filed bankruptcy your credit is not great. You certainly can buy a car for cash. Finding someone to lend you money; or getting a loan will be more difficult.
When you file chapter 7 bankruptcy and the case was dimissed will this show up on my credit report?
Yes. It will show that you filed bankruptcy and that the bankruptcy was dismissed.
If debts are paid after bankruptcy with a post bankruptcy inheritance does the bankruptcy go away?
No once filed on file. * A dismissed or discharged chapter 7 will remain on a credit report for ten years. A dismissed or completed chapter 13 will remain on a credit report for 7 years.
If you filed Chapter 7 six years ago and it was dismissed but the credit bureaus will not take it off how do you get it removed?
A CHAPTER 7 BANKRUPTCY TAKES 10 YEARS BEFORE THIS IS REMOVED OFF OF YOUR CREDIT REPORT. THE GOOD NEWS THIS DOES NOT AFFECT YOUR CREDIT ANY LONGER! *********************I filed Chapter 7 in 2003 and depending on what your state court's definition of "dismissed" is it CAN affect your credit. For instance, some courts definition of "dismissed" is the same as "discharged." In Ohio it is "discharged" and I no longer owe any debt, however it DID IN FACT AFFECT MY CREDIT. I can NO LONGER get any. I received denial letters stating the reason for being denied, "Bankruptcy." So do your homework according to your state.
How long does a dismissed ch 13 stay on a credit report?
A chapter 13 Bankruptcy, dismissed, discharged, or otherwise, stays on your credit report for 7 years from the date it was filed.
If you filed chapter 13 and had it dismissed and paid of the debt is there any way to get it off of your credit report?
No. Filing a bankruptcy creates a public record that does not go away because you did not complete the bankruptcy. - once you file and get a case number you have filed for bankruptcy. if you didn't follow through and it got dismissed is regardless. you still filed for bankruptcy and it will still be on your credit report.
If a chapter 7 bankruptcy was voluntarily dismissed not discharged can it be removed from your credit file?
No, it will remain for seven years.
Can bankruptcy be taken off your credit report if the bankruptcy was dismissed through the courts?
Bankruptcies are a matter of public record and this is why they appear in credit histories. A Chapter 13 listing will remain on your credit report for seven years from the filing date and a Chapter 7 will remain on the credit report for 10 years from the filing date. The credit report entry will state the bankruptcy was filed and dismissed, not discharged.
Where can you find information about corporate bankruptcy laws?
Does corporate bankruptcy affect personal credit?
