How long do foreclosures and bankruptcy stay on your credit report?
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my brother was forced to forclose on a house it took 6 years before it was taken off his report.
minimum seven years, how ever you can buy a home 2 years after a foreclosure but before ou go down that road talk to your mortgage compnay about a short sale!
It stays on your credit report for seven years but three years after being discharged from bankruptcy you should be able to get new credit.
10 years now.
7 years i believe... depends on what exactly you file i think...
Lot of misinformation here from people that have never filed BK .
Bankruptcy stays on your credit report for 10 years after the date of discharge. It's never been as little 7 years. Inferior entries onto your credit report usually stay on for 7 years.
However, you can usually get a home mortgage 2 years after discharge... how much you pay will depend on what your credit score is.
I had a credit card within 3 months after discharge. It is now 4 years later and I have 4 CCs' .. all with decent interest rate, and would have no problem qualifying for a house OR a car. Yes, I will probably pay 'more' than someone who didn't file, but I am not instantly eliminated. I have a good job, long employment history, and have kept my nose clean since the BK (no late payments!)
Chapter 13's are often used when the debtor owes a lot on 'secured' type loans such as home/auto, are behind on their payments and wish to keep their home/auto.
i belive it is 10 years.
Seven to ten years.
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