Hi everyone, I have a big problem. That has to be fixed quick or I will lose a home worth 50.000 just because I can't get a lone for 10,000 dollars. It is not my credit per say. The loan officer at the bank was all ready to give me a loan after listoning to my story of why I needed this loan, so bad and so quick. Lets just say it involves a 80 year old parent with dementia ( prob. not spelled right) Anyway, all sounded good and she said she would call me back in an hour with the rates and such. I thought OK this problem fixed. BUT as it turned out she could not give me a loan! Why because AMSouth Bank will not give you a loan if a bankruptcy shows up on your report. It has been over 8 years. Don't they come off after 7? Also, I cant seem talk to a human. I have spent hours tring too! And could you PLEASE tell me how do I get them to take it off. AND QUICK. AS I'm running out of time. At this point any help would be SOOOOOO wonderful. Thank you all
BK ch 7 remains for 10 years from date filed BK ch 13 remains for 7 years from date filed PS: although they will come off your credit reports at those times there are instances where they will continue to be reported even though the time has passed Mortgage loans, some employment applications, and security clearances would still turn up the BK info, even if it is no longer on your CR
AMSouth Bank will not give you a loan if a bankruptcy shows up on your report. It has been over 8 years. Don't they come off after 7? =================== Was The BK a Chapter 7 or a Chapter 13? C 13 reports for 7 years. C 7 reports for 10 years. A-50-C
Bankruptcy is 10 years, as long as loan is under $150K.. http://www.ftc.gov/os/statutes/fcra.htm �§ 605. Requirements relating to information contained in consumer reports [15 U.S.C. �§ 1681c] (a) Information excluded from consumer reports. Except as authorized under subsection (b) of this section, no consumer reporting agency may make any consumer report containing any of the following items of information: (1) Cases under title 11 [United States Code] or under the Bankruptcy Act that, from the date of entry of the order for relief or the date of adjudication, as the case may be, antedate the report by more than 10 years. ... (b) Exempted cases. The provisions of subsection (a) of this section are not applicable in the case of any consumer credit report to be used in connection with (1) a credit transaction involving, or which may reasonably be expected to involve, a principal amount of $150,000 or more;
Even though the BK is not published the info is there and can be seen in the above cases by potential creditors / employers
Re: Re: Oh Please Help Me Quick quote: -------------------------------------------------------------------------------- Originally posted by pd11604 Mortgage loans, some employment applications, and security clearances would still turn up the BK info, even if it is no longer on your CR -------------------------------------------------------------------------------- *****Even though the BK is not published the info is there and can be seen in the above cases by potential creditors / employers *****This would apply only if the loan was for 150,000 or more The poster only asked for 10,000.
Mort. lenders can rescore your file. Since it was a Ch. 13 and over 8 yrs ago, I'd talk to a mort. lender and ask them. They can get it done within 48 hours.
Re: Re: Oh Please Help Me Quick (1) Cases under title 11 [United States Code] or under the Bankruptcy Act that, from the date of entry of the order for relief or the date of adjudication, as the case may be, antedate the report by more than 10 years. ontrack ===================== 1*Agreed this states 10 years. How ever this is not mandatory. That being the case the CRAs customarily delete a C 13 BK after 7 years. A-50-C
Yes - but if it's not off by now, to dispute as obsolete through the CRAs will take at least 30 days and there may not be time.
