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Would filing chapter 7 bankruptcy clear foreclosure from your credit report?

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2011-02-24 20:13:33
2011-02-24 20:13:33

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

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Related Questions


Yes. It is the most common reason for filing a chapter 13.


No. Foreclosure is a specific action that would be filed in a county court. Filing a Chapter 7 bankruptcy would give the mortgage lender the right to file the foreclosure after the bankruptcy case is closed, unless you reaffirm the mortgage debt with the lender.


Yes, temporarily. Filing for bankruptcy protects your from collection actions taken by your creditors, including foreclosure during the proceedings.



A foreclosure or bankruptcy is never good for your credit, this is something you'd be better off discussing with an attorney. You can avoid foreclosure by filing bankruptcy.


No, if property has been foreclosed upon the notation will remain on the credit report for the required amount of time of seven years from date of foreclosure. A bankruptcy remains on the credit report for ten years.


can you stop wage garnishment from your wages if you file bankruptcy


generally filing for bankruptcy puts a stay on the collection of debts, including a foreclosure. get in touch with a bankruptcy atty asap, because there are things you are required to do before filing.


Bankruptcies are a matter of public record and this is why they appear in credit histories. A Chapter 13 listing will remain on your credit report for seven years from the filing date and a Chapter 7 will remain on the credit report for 10 years from the filing date. The credit report entry will state the bankruptcy was filed and dismissed, not discharged.


Whether you are filing Chapter 13 or Chapter 7 bankruptcy, your credit score will be directly impacted for 7-10 years AFTER you exit protection.


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.


A chapter 13 can be filed if it has been at least two years from the date the first filing was dismissed.


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.


Yes, bankruptcy protect you from foreclosure by your mortgage company. You can read more at www.hirby.com/mortgage-lender-filing-for-bankruptcy


In a Chapter 7 bankruptcy, a person filing for relief is called a


A chapter 7 bankruptcy filing remains on your credit report for 10 years. Chapter 13 bankruptcy remains for seven years. Under chapter 13 bankruptcy you repay at least a portion of the debt, so it is removed a little sooner.



Most likely, yes. One of the biggest effects that filing for bankruptcy has is on your credit. Bankruptcy will stay with your credit for roughly 10 years and because of that your score will decrease, at least initially.


A person's income does not count after filing chapter 7 bankruptcy. All that counts is what you had before filing bankruptcy.


can you change your filing from chapter 7 to chapter 13 ?


Generally speaking, filing for bankruptcy protection temporarily halts ALL collection actions for all creditors, including foreclosures.


No. The only thing that it will wipe out as far as debt is credit cards and bills, not mortgages or school loans. Any government loan is not taken care of by filing bankruptcy.


You have to wait eight years after filing for Chapter 7 and 4 after filing for Chapter 13.


If you wreck your car after filing for Chapter 13 bankruptcy you can file it on your insurance. You can then replace your car based on the bankruptcy order.


A chapter 13 lawyer is good at filing for bankruptcy for their client. A bankruptcy lawyer can help you find the best financial path after filing for bankruptcy.



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