No. If you filed 2 bkrs, then they will both show up under public records.
Example: If you home was foreclosed on, you stopped it and it was foreclosed on again - 2 foreclosures would also show up.
You dont, the courts or credit companies are the only ones that can remove them. Very long process if they allow it and nowadays, they can choose to keep bankruptcy on your credit for 20 years or more.....
There is not a specific score that your credit drops to after a bankruptcy. Your credit doesn't only depend on that one thing, but the rest of your credit history as well, and sometimes it will go up on certain credit reports since now you will compared to other people with bankruptcies on their record, instead of other people without. See the related links for more information.
No, if the wife is not an authorized user on the credit card then it does not affect the wife's credit report. So the late payment will only be on the husband credit report.
Yes it can. You should agree to pay it only if there is an agreement to not report it to the credit reporting agencies.
It only hurts your credit score when someone else pulls your credit report.
A chapter 11? A farm? Bankruptcies are not "seen" by credit reporting bureaus, they just report them. They can see them any time by logging on to a bankruptcy court web site with their log-in info. They can only report bankruptcies up to 10 years after the filing date.
THE ONLY POSSIBILTY THAT YOU HAVE ON RESOLVING A BANKRUPTCY IS TO MAKE SURE THAT THIS IS A DEBT THAT WAS DISMISSED. BANKRUPTCIES TAKE SEVEN YEARS FROM THE DATE THAT IS WAS FILED IN ORDER FOR THIS TO NO LONGER AFFECT YOUR CREDIT RATING. Bankruptcies remain on a credit report ten years from the time of discharge. A dismissed chapter 7 will remain ten years a dismissed chapter 13 will remain seven years. If the time has expired for the bankruptcy to be removed from the CR the person should write a letter containing all pertinent details including a copy of the date of the BK discharge or dismissal. Valid negative information of a credit report cannot be removed until the prescribed time limit has expired. Positive entries will remain an indefinite period of time, in some cases permanently.
You dont, the courts or credit companies are the only ones that can remove them. Very long process if they allow it and nowadays, they can choose to keep bankruptcy on your credit for 20 years or more.....
Generally, only the last twelve (12) months of credit report requests are included on a credit report.
There is not a specific score that your credit drops to after a bankruptcy. Your credit doesn't only depend on that one thing, but the rest of your credit history as well, and sometimes it will go up on certain credit reports since now you will compared to other people with bankruptcies on their record, instead of other people without. See the related links for more information.
Only you.
No, if the wife is not an authorized user on the credit card then it does not affect the wife's credit report. So the late payment will only be on the husband credit report.
The only fair answer to this is sometimes. Chapter 13's are sometimes removed after seven instead of ten years by creditors voluntarily, but there is no guarantee or requirement that they do so. More importantly, having a bankruptcy on one's credit report is not near as negative as some creditors would like you to believe. Fact is, if you have good income, the creditors will find a way to finance what you want regardless of your credit report - and conversely, if you have a perfect credit report and no income, you are not going to be able to buy anything on time anyway.
Yes it can. You should agree to pay it only if there is an agreement to not report it to the credit reporting agencies.
It only hurts your credit score when someone else pulls your credit report.
your credit report only goes back 7 to 10 years so YEA unpaid adverse acounts do simply diappear from your credit report. The answer is yes, depending on the type of the adverse activity, and provided you wait long enough, eventually reports of collections, bankruptcies, late payments and other less than stellar examples of your creditworthiness will simply go away. Credit reports are complex critters - there's much more to say on this topic. I'll be back after I do some further research.
No, only the owner and authorized users of the credit card will be reported on the credit card company to the credit agencies. If your husband is an authorized user on the credit card then it will show up on his credit report.