I had the same problems you have but my credit is all cleared up now. I suggest that you get ahold of the FCRA, Fair Credit Reporting Act. It is a federal act that allows anything on any 3 of your credit reports to be on the reports for no more than 7 years. If these are the problems that you are having I suggest you see a personal banker at your local bank. They are usually more than happy to help you because they know you have accounts through them and potentially more accounts or loans through them. They will be able to tell you how to write the credit reporting agencies and dispute the claims that are more than seven years old and get them removed from your credit reports. Go to annualcreditreport.com and find out what these entries are. There was a federal law passed a year or 2 ago that says consumers have the right to a free credit report from each of the big 3 agencies free every 12 months. Feel free to drop me a line if you have any more questions. tolstadb
Any type of bankruptcy will remain on a credit report for the required ten years.
If it is done and over, the final paperwork has been signed, then you cannot back out. What is done, is done. Take this opportunity to do better with money from now on and your credit will repair after the 7 years.
If you are facing some serious financial issues, you may consider filing for chapter 13 bankruptcy protection. If you do file keep in mind that there is no limit to the amount of times you can refile for the same protection.
With bankruptcy most banks will not take it into account after 2 years of discharge. Banks look more favorably on Chp. 13 than on Chp. 7's, I deal with many banks who will actually refinance before the 2 year period depending on the circumstances.
same as all the other years execpt you plan for college
After 7 years, you can start rebuilding your credit.
A bankruptcy stays on your credit report for 10 years and you may have to answer about it for the rest of your life. Who knows what effect it has on your credit score? Companies that lend money. Only when you apply for credit after bankruptcy will you know the full detrimental effect.
Anytime a bankruptcy shows up on a credit report, the credit score associated with such a credit report will be ranked as fair or poor. Four years is still considered "recent" concerning bankruptcy, so poor is the best that one can hope for. Bankruptcies stay on the credit report for ten (10) years.
10 years
Yes, but only after the bankruptcy is removed from your credit report - which can take over ten years from the discharge.
First off once you file bankruptcy you cannot do it again for 7 years. Bankruptcy stays on your credit report for 10 years. Rather to try to describe what the different types of bankruptcy will do to your credit click the link for more information.
No, filing bankruptcy will never help improve your credit score, it stays on your report 10 years whereas a repo or foreclosure normally remain 7 years. So bankruptcy would only make your credit worse.
Yes, a Bankruptcy is one of the most damaging accounts which can show up on a credit report. The good news is that after 2 years, the account doesn't impact your credit score as much. Once it is deleted, your credit score is improved.
More than likely if you file for bankruptcy your credit score will go down. They report the filings for up to seven years and sometimes ten.
Keep in mind that a bankruptcy will affect your credit score. What you must do now is add good credit e.g. secure credit cards and maybe a secure loan will increase your credit score within 2 years. Your credit scrore primarily judge consumers on what they have done within the last two years. If you add good credit, your score will increase.
The bankruptcy stays on the credit report for 7 years, so you need to try to build up your credit profile.
The bankruptcy will still be reported on your credit file for up to ten years however, it will denote that the car loan was paid off. So to answer the question wil it raise your credit score. The answer is no.