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.
2007-07-02 09:45:20 · 4 answers · asked by Anonymous in Education & Reference ➔ Financial Aid
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.
2007-07-04 06:50:36 · answer #1 · answered by ? 2 · 0⤊ 0⤋
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.
2007-07-02 11:09:17 · answer #2 · answered by holacarinados 4 · 0⤊ 0⤋
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.
2007-07-02 09:57:44 · answer #3 · answered by JRM 5 · 0⤊ 0⤋
Here is a place to read a little:
http://bankruptcy.lawyers.com/Chapter-7-Bankruptcy-Basics.html
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 ?
2007-07-04 17:57:38 · answer #4 · answered by Anonymous · 0⤊ 0⤋