Sep
11
11
deborah b asked:
i did a chapter 7 around 10 years ago.have good credit now but my daughter is trying to get student loan with me as co-signer and one of the questions is - have you ever filed for bankruptcy.
Related Blogs
- Related Blogs on 10 Years
- Fannie and Freddie “Should have been closed down 10 years ago”
- ELI welcomes largest group in 10 years
- CatChat: Jason Yotsuda, Traffic Guy
Tags: 10 Years, Bankruptcy, Chapter 7, Co Signer, Loan Application, Student Loan
September 14th, 2008 at 7:09 pm
The question is have you ever filed for bankruptcy, not have you filed for bankruptcy in the last X number of years. Since you did then you have to answer ‘yes.’ Some lenders will automatically disqualify you if you answer yes, but others will pull your credit check and look to see how you’ve done since the bankruptcy. It’s just going to depend on the lender’s policies.
September 15th, 2008 at 11:08 am
If you have had good credit for 10 years, they might overlook the bankruptcy assuming they believe you can pay the loan back. I got all my credit back after declaring bankruptcy after about 7 years, but there was a new bankruptcy law enacted about three years ago, that may have changed things. Call or e-mail one of those free legal services.
September 18th, 2008 at 12:11 pm
Hi. I believe that you do not have to disclose the bankruptcy as it it 10 years old and is no longer being reported on your credit report.
September 21st, 2008 at 2:02 pm
Here is a place to read a little:
BUT; I would try calling the lawyer who did your bankruptcy for real clarity.
After all you don’t want a nearly meaningless answer to become a fraud that costs your daughter a year of financial aid ?
Add A Comment