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If you buy a house from someone who has declared bankruptcy how will it affect your credit rating?
Wiki User
∙ 17y ago
==Answer == Not in any way. Your credit rating is only determined by how YOU handle your credit on anything that is in your name.
Wiki User
∙ 17y ago
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Will a cosigner's credit be affected if they cosign for someone who has a bad credit score because of a Chapter 7 bankruptcy?
The cosigner's credit will only be affected if the person that they cosign for defaults on the loan. The bankruptcy will not affect the cosigners credit.
How can someone with bad credit get a home loan?
The Federal Housing Administration can assist people with bed credit get a home loan. They have programs available for people who have declared bankruptcy or have a foreclosed property.
Will your credit rating be affected by your partner filing bankruptcy?
If your partner files for bankruptcy and you don't then the bankruptcy will not appear on your credit report. But you will be partly responsible for before bankruptcy filing. Generally filing bankruptcy will affect the credit rating of the individual who filed it.
Can you remove a bankruptcy dismissal from your credit?
No. Backruptcy will always appear on your credit. After 7-10 years your credit will be as good as someone who has not filed bankruptcy.
Can credit cards be used after someone files for bankruptcy?
Sometimes credit card charges are not included in bankruptcy. If they are then you will no longer be able to use them.
Will a cosigner's credit be affected if they cosign for someone who has a bad credit score because of a Chapter 7 bankruptcy?
The cosigner's credit will only be affected if the person that they cosign for defaults on the loan. The bankruptcy will not affect the cosigners credit.
Are there any types of credit cards one can get if they have declared bankruptcy?
When in bankruptcy it is not possible to have a credit card. Once the terms of the bankruptcy have been met, some credit card companies will consider issuing a credit card to some people.
Will a co signers bankruptcy in Maryland effect your credit in pa?
If your co-signer has declared bankruptcy but you have not and are current on your payments it will affect your credit until the original loan is paid off regardless of what state you are in. Once that loan is paid off and your connection to the other persons credit is severed you will operate on your own credit score.
How can someone with bad credit get a home loan?
The Federal Housing Administration can assist people with bed credit get a home loan. They have programs available for people who have declared bankruptcy or have a foreclosed property.
Where can you find information about corporate bankruptcy laws?
Does corporate bankruptcy affect personal credit?
Will your credit rating be affected by your partner filing bankruptcy?
If your partner files for bankruptcy and you don't then the bankruptcy will not appear on your credit report. But you will be partly responsible for before bankruptcy filing. Generally filing bankruptcy will affect the credit rating of the individual who filed it.
How does my poor credit and or bankruptcy affect my children getting student loans?
It does not affect them.
Can you remove a bankruptcy dismissal from your credit?
No. Backruptcy will always appear on your credit. After 7-10 years your credit will be as good as someone who has not filed bankruptcy.
If you are an authorized user on your parents credit card and they claim bankruptcy how will that affect your credit?
It will not affect your credit at all. Their credit information was used to secure the card. You are in the clear.
Can credit cards be used after someone files for bankruptcy?
Sometimes credit card charges are not included in bankruptcy. If they are then you will no longer be able to use them.
Does business bankruptcy affect personal credit?
If your business is tied to your personal credit, then yes, you run the risk of being personally affected by the business's bankruptcy.
If you filed for bankruptcy four years ago while previously married and you remarry how will it affect your new spouse's credit?
It will have no affect on her credit. Only the person(s) who are a party to a bankruptcy have it noted on any crediting reportage.
