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Chapter 7 bankruptcy. Leslie Tayne, attorney and founder of Tayne Law Group in Melville, New York, says you’re eligible for a mortgage a few years after a Chapter 7 discharge of debt.
See: 4 Debts That Are Not Discharged in Bankruptcy Also: 3 Debts You Can Get Canceled Forever. Bankruptcy makes it harder to do things like qualify for a mortgage. But that doesn’t mean it’s ...
Loans, medical debt and credit card debt are generally all able to be discharged through bankruptcy. Tax debt, alimony, spousal or child support and student loans are all typically ineligible for ...
Bankruptcy waiting period. Foreclosure waiting period. Conventional loan. 4 years for Chapter 7 or Chapter 11 (2 years with exceptions); 2 years from discharge or 4 years from dismissal of Chapter 13
Benefits of cosigning. Drawbacks of cosigning. You can help a loved one qualify for a loan. You assume full liability for payments and late fees if the main borrower falls behind or files bankruptcy
Most types of student loans are not discharged in bankruptcy. Why not? Student loans are considered investments in the debtor’s future earning potential, said Levon L. Galstyan, CPA at Oak View ...