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Chapter 7 bankruptcy stays on your credit report for a maximum of 10 years and a Chapter 13 bankruptcy filing stays on your credit report for up to seven years.
Loans, medical debt and credit card debt are generally all able to be discharged through bankruptcy. ... but the bankruptcy will stay on your credit report for years down the road. Chapter 7 ...
This will stay on your credit report for seven years. “Chapter 13 is about reorganizing financial affairs,” says Michael Sullivan, personal financial consultant with the nonprofit debt ...
The disadvantage of filing for personal bankruptcy is that, under the Fair Credit Reporting Act, a record of this stays on the individual's credit report for up to 7 years (up to 10 years for Chapter 7); [5] still, it is possible to obtain new debt or credit (cards, auto, or consumer loans) after only 12–24 months, and a new FHA mortgage loan just 25 months after discharge, and Fannie Mae ...
A bankruptcy will make it harder to get loans or credit in the future, and your rates will be higher if you do qualify. Chapter 7 bankruptcy can stay on your credit reports for 10 years, while ...
This may make obtaining any unsecured or even secured credit more difficult. If the charge-off has been paid in full, it will be listed on the credit report as "paid in full". If settled for less than the amount due, it will be listed as "settled". Even such a listing on a credit report can be negative. [4]