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If your charge-offs are two years old is it better to wait five years for your credit to clear or file for bankruptcy?
Wiki User
∙ 8y ago
Are the charge off creditors taking collection action? Bankruptcy should be a last resort always. If creditors are harrassing you, but you make enough to pay some of the obligation, make a settlement offer to get them off your back. If they are not trying to collect, the charge offs will remain on your report wether or not you pay them, so if all else is ok financially with you, just leave them alone. If you are trying to buy a house, though, your prospective lender may require you to pay them off in full since they are not aged accounts.
Wiki User
∙ 8y ago
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Would filing chapter 7 bankruptcy clear foreclosure from your credit report?
No, in fact it will leave a Bankruptcy record on your credit report for 10 years.
Is chapter 7 bankruptcy clear 10 years from court announcement or hearing date?
Chapter 7 Bankruptcy will be removed from a credit report 10 years after the date the Bankruptcy was FILED.
What can you do to help clean up debts on your credit report?
Besides paying your debts off or filing bankruptcy if you are unable to pay off these debts there is nothing you can really do to clear them from your credit report. Most debts stay on your credit report for seven years.
Who is eligible for a Chevron Texaco credit card?
People whose credit history is clear of bankruptcy, who have not been denied by GE Capital Retail bank within the last six months, and are above 18 years old are eligible for a Chevron Texaco credit card.
How long does it take to clear?
Bankruptcy is never really cleared. Companies usually stop considering it as an issue for credit, after seven years. It still remains in many consumer reports.
Would filing chapter 7 bankruptcy clear foreclosure from your credit report?
No, in fact it will leave a Bankruptcy record on your credit report for 10 years.
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.
Is chapter 7 bankruptcy clear 10 years from court announcement or hearing date?
Chapter 7 Bankruptcy will be removed from a credit report 10 years after the date the Bankruptcy was FILED.
What effect will a five year old bankruptcy have on getting a job that requires a background check?
It all depends on the employer, usually after seven years a bankruptcy is clear from your record, even though someone has a bankruptcy in their record they can try to get credit to begin to improve their credit.
How long does It take to clear bankruptcy?
Bankruptcy is never really cleared. Companies usually stop considering it as an issue for credit, after seven years. It still remains in many consumer reports.
What has the author Richard C Applewhite written?
Richard C. Applewhite has written: 'Clear your credit & get out of debt' -- subject(s): Bankruptcy, Collection agencies, Credit, Debt, Personal Finance
Are tax debt settlements held against you like a bankruptcy is?
While it does impact you while it is ongoing, as soon as you start to clear your debt settlements, your credit score will start to go back up. There is not a delay of years like there is for bankruptcy.
10k credit cards debtand fill out for bankruptcy you will be clean again or not?
Possibly ... but it's going to take many years ... possibly between 7 and 15 years to clear all the debt from your credit history.
What can you do to help clean up debts on your credit report?
Besides paying your debts off or filing bankruptcy if you are unable to pay off these debts there is nothing you can really do to clear them from your credit report. Most debts stay on your credit report for seven years.
Who is eligible for a Chevron Texaco credit card?
People whose credit history is clear of bankruptcy, who have not been denied by GE Capital Retail bank within the last six months, and are above 18 years old are eligible for a Chevron Texaco credit card.
How do you clear your name after bankruptcy?
You don't need to "clear your name" after Bankruptcy, the stigma isn't what it used to be. There's a common myth that once declared bankrupt you will be added to a "blacklist". There is no such blacklist. Under British law you will most likely be "clear" of you bankruptcy after 4 years, after which time you are allowed to apply for credit (if you want to), a good way to start is with a credit card with a low-limit. Use this card every month and clear the debt every pay-day, after a few months of this apply for another and then a few months later another. Make sure you pay them off. Keep this up for a maximum of 3 cards and for 1 year. This will improve your credit rating and you will probably be eligable for a loan, mortgage, etc. Be careful with your money though! Good luck, Moog.
How long does it take to clear?
Bankruptcy is never really cleared. Companies usually stop considering it as an issue for credit, after seven years. It still remains in many consumer reports.
