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

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โˆ™ 2011-02-24 20:13:33
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Q: Would filing chapter 7 bankruptcy clear foreclosure from your credit report?
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Related questions

Does a chapter 13 bankruptcy filing stall foreclosure?

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


Is filing bankruptcy on your home considered a foreclosure?

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.


Will chapter 7 bankruptcy stop a foreclosure in California?

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


Is it better or worse for your credit to let the bank foreclose on a mortgage of a second property while facing bankruptcy?

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.


What can be done to attain employment at 60years old after filing chapter 7 bankruptcy What if there is reasonable reason for filing chapter 7 Could the reason for bankruptcy be told to the employer?

How to get after job filing chapter 7 bankruptcy once it appears on the credit report


Can filing for bankruptcy remove a foreclosure from your credit report?

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.


The sheriff has scheduled my home for a sale. Will filing bankruptcy chapter 7 stop this process?

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.


If you just divorced and already have foreclosures and repossessions on your credit report will filing bankruptcy help your credit score?

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.


How long after filing chapter bankruptcy for it to be removed from your credit report?

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


Can you refile chapter 13 bankruptcy under the new bankruptcy law after your case was dismissed to avoid foreclosure?

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


Can bankruptcy hurt you?

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.


Can bankruptcy be taken off your credit report if the bankruptcy was dismissed through the courts?

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.


How long does a chapter 13 stay on your credit report in Wisconsin?

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.


If your credit score is 565 after filing a chapter 7 bankruptcy that is not discharged will it lower more when the discharge becomes official?

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.


Is foreclosure done quicker if home has been discharged in bankruptcy?

A home is not discharged in bankruptcy. The mortgage(s) and home equity loans, lines of credit, etc., are discharged, but you have to abandon the real estate in the bankruptcy. That means the mortgagee can go ahead with a foreclosure if there was none before the filing, once the Chapter 7 is closed. Chances are the mortgagee would ask for relief from stay to go ahead with the foreclosure. The trustee may get any excess from the sale, unless it was exempted.


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.


Will bankruptcy protect me from foreclosure by my mortgage company?

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


Can bankruptcy stop a foreclosure?

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.


How long after filing chapter 7 bankruptcy comes off of your credit reports?

10 yrs. after its dismissed.


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

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


If you filed chapter 7 bankruptcy in 2003 when is it discharged and when will it come off your credit records?

The bankruptcy is not discharged. Your debt obligation is discharged. The discharge notice usually is mailed to you about 6 weeks after the 341 meeting. The filing of bankruptcy will stay on your credit report for 10 years from the date of filing.


Does income count AFTER you file chapter 7 bankruptcy?

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


Can filing for bankruptcy stop foreclosure?

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


How long is a chapter 13 bankruptcy on your credit report?

Though legally it can be reported for up to 10 years after filing, most credit bureaus remove Chapter 13s after 7 years.


How long does a chapter 7 bankruptcy stay on your credit report in the state of California?

Filing for bankruptcy can have a lasting effect on your credit and that can cause some difficulties in getting any type of credit. Unfortunately, bankruptcy stays on your credit report for 7-10 years, after which time it is on your to work to get credit back!