As much as you try to tell people that there is life and credit after bankruptcy, there is always doubt, but here is short success story I found. (more…)
Archive for the ‘Credit Reporting’ Category
Mortgage After Bankruptcy, A Success Story!
Saturday, November 5th, 2011
Short Sale After Bankruptcy, What Should Be On My Credit Report?
Saturday, June 18th, 2011Question:
We filed Chapter 7 bankruptcy almost three years ago and have stayed in our house. All mortgages were included in our bankruptcy; we are now in the process of a short sale and our question is this: can the banks make an entry on our credit for the short sale even though our debt was discharged. There have been no monthly updates since that date and all accounts show as closed.
Answer:
Although there is some gray area with your question; in general, the answer is no. (more…)
Can I Qualify for Student Loans After Bankruptcy?
Monday, February 7th, 2011Given the difficult economic times, many individuals are facing career transition and heading back to school to learn new skills. As part of that transition, many of those individuals must file bankruptcy to receive a financial fresh start. At the same time, these individuals must fund their retraining with student loans; so the question arises, can you get student loans after bankruptcy?
Short answer: YES! There exists a little invoked bankruptcy code provision that expressly prohibits student loan lenders from discriminating against potential borrowers because of a previous bankruptcy. For all but truly private student loans, bankruptcy code section 525(c)(1) prohibits lenders from denying student loans because the borrower filed bankruptcy. (more…)
How Should Mortgages Be Reported on Your Credit Report After Bankruptcy?
Friday, July 30th, 2010Question:
I filed chapter 7 bankruptcy and Equifax shows the 2nd mortgage as included in bankruptcy. I never missed a payment and reaffirmed the account. I cannot get the bank to report to Equifax that I am continuing to make the payments. How can I get the bank to report the payments that have been made each and every month? I have disputed and the bank says they are reporting correctly. (more…)
