A Chapter 7 bankruptcy is typically removed from your credit report 10 years after the date you filed, and this is done automatically, so you don't have to initiate that removal. Chapter 13 bankruptcy Chapter 13 bankruptcy, Opens overlay, also called a wage earner's plan, considers the wage...
If you filed for Chapter 13 bankruptcy, it could take a few years (usually three to five years) for your debts to be deemed discharged, so it'll be a couple of years before you can apply for a new line of credit. Otherwise, you can seek approval from the court to apply for a new...
Bankruptcies can appear on your credit report—Chapter 7 for up to 10 years and Chapter 13 for up to 7 years from the filing date. Credit repair services may challenge a bankruptcy on your report if it’s incorrectly listed or if it appears longer than it should. ...
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Mortgage loans are not dischargeable in bankruptcy, yet your mortgage lender probably reported your trade line as “included in bankruptcy.” Guess what? Your mortgage loan was NOT included in BK. Hence, if you made payments to your lender AFTER you filed Chapter 13, [...] 5 Ways to Fix...
Bankruptcy:This sounds dire, but sometimes you just need a fresh start. There are two options: Chapter 7 and Chapter 13. Chapter 7 is easier to complete but has strict income requirements. Chapter 13 is basically an extended repayment plan. In either case, you will be assigned a bankruptcy...
We were behind on bills so we filed Chapter 13 bankruptcy and did a 100% repayment. Thanks to your information we paid off the bankruptcy 14 months early. Our scores are now 740-760-780 and we just had a offer accepted on a house with a 3.25% loan. We also have had several credit...
The type of bankruptcy you choose to file will determinehow long it is listed on your consumer credit report. Chapter 7 and Chapter 11 bankruptcies stay on your credit report for 10 years after you file. Chapter 13 bankruptcies remain on a credit report for seven years after the bankruptcy ...
a poor score may also be the result of a bankruptcy, which will remain on a credit record for seven years for Chapter 13 and 10 years for Chapter 11.7
Bankruptcy chapter choicePersonal bankruptcyPurpose - – A financially distressed homeowner considers bankruptcy filing, either Chapter 7 or Chapter 13, to delay foreclosure. On one hand, Chapter 13 filing takes longer processing time, spreads mortgage arrearages over the debt repayment period, and ...