How many years does a bankrupcy stay on my credit report? 28 Answers as of June 13, 2012

After filing a chapter 7 bankruptcy. How soon can I apply for a house loan..

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The Law Offices of Katie M. Stone
The Law Offices of Katie M. Stone | Katie M. Stone
A Chapter 7 bankruptcy stays on your credit report for 10 years after you receive your discharge. A chapter 13 remains on your credit report for 7 years after you receive your discharge. Sometimes people are successful in getting it removed from your credit report sooner than that and you can always take steps to rebuild your credit score right after your discharge. Be cautious about using credit because you do not want to over extend yourself and end up not being able to make your payments. Make sure to take steps to rebuild your credit wisely and that you have affordable lines of credit for your budget. I hope you found this answer useful.
Answer Applies to: Florida
Replied: 6/13/2012
Law Office of Jeffrey Solomon
Law Office of Jeffrey Solomon | Jeffrey Solomon
The bankruptcy would likely stay on your credit for 10 years, but that does not mean you have to wait that long to obtain credit. You might be able to obtain home financing in 2 years. You should contact a mortgage broker.
Answer Applies to: Florida
Replied: 6/11/2012
R. Jason de Groot, P.A
R. Jason de Groot, P.A | R. Jason de Groot
It will be on your credit report for a minimum of 7 years, perhaps more. You can apply for a house loan at any time. It is up to the lender to give you a loan. It would probably be best to wait until 2 years after the discharge in bankruptcy.
Answer Applies to: Florida
Replied: 6/7/2012
Evan Guthrie Law Firm
Evan Guthrie Law Firm | Evan Guthrie
A Chapter 7 Bankruptcy will stay on your credit report for 10 years. You can still apply for a house loan but the chances of getting one without help from someone else co-signing would be small.
Answer Applies to: South Carolina
Replied: 6/7/2012
Indianapolis Bankruptcy Law Office of Eric C. Lewis
Indianapolis Bankruptcy Law Office of Eric C. Lewis | Eric Lewis
You can typically get an FHA loan about four years after bankruptcy discharge
Answer Applies to: Indiana
Replied: 6/7/2012
    Olson Law Firm | Edward M Olson
    Expect that the bankruptcy will be on your credit report for at least ten years. You can apply for a new loan anytime. After one year of good credit history (all on-time payments) you should qualify for a good interest rate too.
    Answer Applies to: Michigan
    Replied: 6/7/2012
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    It will be on your credit for 10 years but you should be able to get a mortgage within 2 to 2.5 years after bankruptcy.
    Answer Applies to: New York
    Replied: 6/7/2012
    William C. Gosnell, Attorney at Law
    William C. Gosnell, Attorney at Law | William C. Gosnell
    That would be 10 years.
    Answer Applies to: Tennessee
    Replied: 6/7/2012
    Attorney At Law | Harry D. Roth
    The bankruptcy stays on your credit for 10 years. You can apply for a house loan the day after your discharge comes in, but it is unlikely it would be approved. The only hard and fast rule is that FHA insured loans will not be approved until 2 years have passed from discharge. Remember that the main issue is not how long it has been since your bankruptcy but what you have been doing in the meantime. Income and debt are still the biggies when it comes to getting a home loan approved. Much more important than how long since you filed will be all the other obligations you have and have taken on in the meantime.
    Answer Applies to: California
    Replied: 6/7/2012
    Alvin Lundgren | Alvin Lundgren
    Generally at least 10 years.
    Answer Applies to: Utah
    Replied: 6/7/2012
    Barbara Fontaine, Esquire | Barbara Fontaine
    Ten years. It is up to the mortgage company to determine whether they want to loan you money. Maybe in four or five years if you earn enough and are more financially stable.
    Answer Applies to: Rhode Island
    Replied: 6/7/2012
    Weber & Phillips, P.A.
    Weber & Phillips, P.A. | John G. Phillips
    Those two questions have less to do with each other than you may think. A bankruptcy can show on your credit for up to 10 years from the date on which it was filed. However, I have seen clients literally receive their discharge and then purchase a home and care immediately after receipt of the discharge. I have also seen cases where people did not do anything to repair their credit or establish new accounts in good standing from which to rebuild their credit. In most cases, my clients seem to be able to buy a new home or car after about 24 months have passed from the time of their filing. Please keep in mind that is a general rule of thumb for clients in my area and your experience can differ. My suggestion would be to attempt to get pre-approved to purchase a home and let a lender tell you whether you qualify or not. If not, ask them what you could do to get your credit in position to be qualified and then take those steps. Good luck.
    Answer Applies to: Arkansas
    Replied: 6/7/2012
    Burton Green, Attorney | Burton Green
    10 years. You can begin trying to apply for a house loan immediately after your case is closed. There may be some programs available to. Used to be that the rule of thumb was no loan until 2 years after discharge. I think that may have changed.
    Answer Applies to: Florida
    Replied: 6/7/2012
    Debt Relief Law Center | Roger J. Bus
    Chapter 7 stays on your credit report "up to 10 years." You can apply for new loans at any time- up to the mortgage company to decided if you are eligible for the loan or not. FHA, VA loans, etc. generally make you wait 2 years.
    Answer Applies to: Michigan
    Replied: 6/7/2012
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    10 years, but that is not the end of the world. You can rehabilitate your credit with a car payment, house payment or careful use of a secured card.
    Answer Applies to: California
    Replied: 6/7/2012
    Charles Schneider, P.C.
    Charles Schneider, P.C. | Charles J. Schneider
    It may remain for 10 years.
    Answer Applies to: Michigan
    Replied: 6/7/2012
    Law Office of D.L. Drain, P.A.
    Law Office of D.L. Drain, P.A. | Diane L. Drain
    10 years, but most creditors will work with you on a new home loan within 4-5 years of filing your bankruptcy. That assumes you rebuilt your credit during that 4-5 years.
    Answer Applies to: Arizona
    Replied: 6/7/2012
    Law Offices of Swapna Anthoor
    Law Offices of Swapna Anthoor | Swapna Anthoor
    It stays on your record for 8 years. After discharge you should proactively try to build up your credit and it is possible that you might be able to apply to a house loan in a few years.
    Answer Applies to: California
    Replied: 6/7/2012
    Salberg Murdock
    Salberg Murdock | Jeffrey D. Salberg
    A bankruptcy will normally stay on your credit report for ten years. If you maintain good credit practices after your bankruptcy, you can apply for an FHA loan in three years. Some conventional and non-conventional mortgages can be applied for in two years.
    Answer Applies to: Utah
    Replied: 6/7/2012
    The Needleman Law Office | Scott Needleman
    It stays on your credit report for 10 years. You can apply for a home loan whenever you want after discharge. If you have a lender, even before discharge.
    Answer Applies to: Ohio
    Replied: 6/7/2012
    Bodow Law Firm PLLC | Ted Araujo
    It would take ten years.
    Answer Applies to: New York
    Replied: 6/7/2012
    Diefer Law Group, P.C.
    Diefer Law Group, P.C. | Abel Fernandez
    A bankruptcy will stay on your credit report for 10 years.
    Answer Applies to: California
    Replied: 6/7/2012
    Law Office of L. Paul Zahn
    Law Office of L. Paul Zahn | Paul Zahn
    Bankruptcy will stay on your credit for 7-10 years. You can apply for loans immediately after the case is closed, but you aren't likely to obtain them for some period of time. It will be necessary to rebuilding your credit first.
    Answer Applies to: California
    Replied: 6/7/2012
    Steven Alpers | Steven Alpers
    Generally it stays for 10 years. House loans will be hard to get for at least that time. You can apply but the loan may not be approved.
    Answer Applies to: California
    Replied: 6/7/2012
    The Smalley Law Firm, LLC | Cary Smalley
    A bankruptcy can remain on your credit report for up to ten years.
    Answer Applies to: Kansas
    Replied: 6/7/2012
    Dan Wilson Bankruptcy
    Dan Wilson Bankruptcy | Dan Wilson
    Stays on your credit reports ten years. You can qualify for FHA conforming loan in 3 years.
    Answer Applies to: Colorado
    Replied: 6/7/2012
    Bankruptcy Law office of Bill Rubendall
    Bankruptcy Law office of Bill Rubendall | William M. Rubendall
    A bankruptcy stays on your credit report for 10 years and then automatically is deleted. You can apply for a home loan at any time after filing bankruptcy. Some lenders will want a 2 year time to have elapsed after the bankruptcy discharge.
    Answer Applies to: California
    Replied: 6/7/2012
    Law Office of Pho Ethan Tran PLLC
    Law Office of Pho Ethan Tran PLLC | Pho Ethan Tran
    It should stay for 10 years.
    Answer Applies to: Texas
    Replied: 6/7/2012
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