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How many years would a bankruptcy filed in 1997 affect your credit?

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2011-09-13 03:23:24
2011-09-13 03:23:24

My Sister is a solicitor in conveyancing and we are buying a house she is dealing with the searches and one of the searches is for Bankruptcy. She sais that they search for Bankrupsy in the last 10 years. Once Bankruptcy is resolved you have to wait at lease 6 years for it to be removed from your credit rating file then you need another 3 - 5 years to build up your credit rating again. Hope this helps

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No, however the person's bankruptcy would be a contributing factor if the couple applied for joint credit such as a morgage.

Ten years from the date of the discharge, not the date of the filing.

It would not affect your credit at all because you are merely the tenant and are renting the property. Since you do not own it, and the owner is the person that has the lien filed against them, it will not affect you or your credit.

Try searching your credit report for info. Last resort would be to go to Lawyer that filed your bankruptcy.

You can dispute a bankruptcy to the credit bureaus. This gives them 30 days to verify it with the courthouse that filed it or it must removed from your credit report. This would only be the bankruptcy, not the items included in bankruptcy. You would have to dispute them separately. Answer No, a bankruptcy cannot be removed if you actually had one and it was discharged. Rather, it will "time out" after a set number of years. You can recover some credibility after a couple of years of paying accounts as agreed.

you would most likely have to wait for a few years until your credit can start to steadily go up again.

No. You would not be a good credit risk nor a sensible guarantor if you are in bankruptcy yourself.No. You would not be a good credit risk nor a sensible guarantor if you are in bankruptcy yourself.No. You would not be a good credit risk nor a sensible guarantor if you are in bankruptcy yourself.No. You would not be a good credit risk nor a sensible guarantor if you are in bankruptcy yourself.

The statute of limitations for reporting information about a bankruptcy is ten years from the date it was filed. You did not mention the filing date, so the very late date your bankruptcy should show on your credit report would be September of 2006.

I am trying to figure this out myself as I have recently filed bankruptcy and both my husband and I are students. There is a portion of the bankruptcy code that makes it illegal for government agencies to refuse student loans to those who have filed bankruptcy. So, as far as getting Title IV funding, such as government backed loans, you should still be able to get them. Title IV loans are not granted based on credit worthiness and therefore should be given to those who have filed banlruptcy, as long as there are no other eligibility issues, such as a student loan in default, drug conviction, etc. If you want to get a loan from a private lender, then they are under NO obligation to give you a student loan if you have filed bankruptcy or have other credit problems. For example, the Plus! loans that are available to parents are based on creditworthiness, so a bankruptcy would affect your ability to get this type of loan. As far as my student loan after bankruptcy, I did have to fill out additional paperwork and am still awating the results. I will post again after I find out what happens.

No legitimate commercial lender will grant you credit while you are in a Chapter 7. Any applications will be turned down and will adversely affect your credit score. The only possible credit situation would be a mortgage restructuring, if you are reaffirming the mortgage, and even then they prefer to wait until you are discharged.

No. Not unless you all share a SS # too. The only other situation where a roomates bankruptcy would might affect your credit is if you file for a joint or co-signed loan together.

A consumers' credit scores are calculated based on ALL the information showing in their credit report. It would be impossible to guess the impact of one account on the whole without extensive information.

One way would be to go in person and checking with the local courthouse in the city/state in which it was filed. Another would be to order a copy of your free annual credit report.

If one files for bankruptcy in the United States, you do not have to prove that you are, and you do not have to be insolvent. Therefore, you are bankruptcy in a legal sense if you filed for bankruptcy. If you want to prove that you are NOT bankrupt all you have to show is that you have not filed for bankruptcy. If you meant insolvent, rather than bankruptcy, to prove that you are not insolvent you would have to show that your income exceeded your debts.

Bankruptcy would not affect your license to sell insurance in any way. It does not affect your ability to continue to make money.

I am in the same boat due to illness and I am looking for a co-signer so I can rent an apt. The bankruptcy has been discharged per the court, and it is hard to rent an apartment sometimes with a co-singer. Everyone has different rules. I believe if you filed a bankruptcy, then had a co-signer, it would have no effect on them, only what you do after they co-sign

No, in fact it will leave a Bankruptcy record on your credit report for 10 years.

yes but that would be stealing unless you paid for it

I don't actually work for an insurance company, but I do know that credit can affect your rates (bad credit = worse rates). Insurance, after all, bases its life on risk: the riskier they think you are as a client, the higher your rates. Credit is the same way, so it only makes sense that a bankruptcy would increase your auto insurance rates. Yes, bankruptcy will affect your insurance rates. I have Erie insurance and my rates did go up quite a bit. My home insurance more than my auto insurance. I had only filed one claim on my home insurance in 27 years and never late in payment and yet my rated jumped almost $200. I was told this was because of the bankruptcy. I recommend you this site where you can compare quotes from different companies: insureinfo.us

They would legitimately be entitled to be a party to the settlement but would need to apply to the bankruptcy administrator for consideration in this instance.

It is impossible to tell through public record what year Jimmie Wayne White filed bankruptcy. This is information that is confidential to his credit report, and if it has been at least 10 years the information would have been purged from record.

Items on your credit history remain only with you. They do not get copied to your wife's credit history after you get married. The only items that appear on both your credit histories is if you have a joint account with both your names on the account. I would get the advice of a lawyer on how best to proceed. You may have certain rights or obligations depending on whose name was on what papers. I am an attorney who concentrates her practice in bankruptcy. No, your spouse is not required to tell you that he or she has filed bankruptcy. However, if you are anticipating dissolution of marriage or there are other special circumstances, the court may find fraud if your spouse disposes of assets or relieves himself or herself of debt. It varies from state to state. However, there is no requirement that a spouse tell the other of a bankruptcy. Bankruptcy is a matter of public record though and you can look up whether people have filed or not by going to the PACER website.

Your bankruptcy remains in the court's index forever. Lenders have access to special non-public databases which they use when a person applies for a loan. Your name will come up in the bankruptcy index. If the lender finds you lied on the application your application will be denied. It would be better to be truthful when you answer that question.

If it is going to be a joint obligation, then they will check your credit status. If both incomes are not needed to qualify for the transaction, the husband could apply in his name only. Therefore only his credit rating would be used.


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