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Question: I have already filed Chapter 7 Bankruptcy by myself, my spouse did not file as his credit is good. I do not have any joint accounts with him, including the house in which we live; it is only in his name. After I filed bankruptcy, his mortgage company, CHASE Bank, has now contacted [...]
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Can someone try collecting from a previous judgment that is not listed on the person’s credit report?
Answer:
With only that bit of information, the answer is yes. There are a few factors to consider. First, was the judgment ever paid? Given the tenor of your questions, it doesn’t appear to be [...]
Continue Reading →Were you aware that FICO offers lenders a proprietary score called the FICO Bankruptcy Score? According to FICO, the Bankruptcy Score will help lenders: “Identify more future bankruptcy, including likely surprise bankruptcies; Take action based on advanced warning of bankruptcy likelihood; and Protect profits by reducing loss exposure while maintaining revenue streams.” In [...]
Continue Reading →Time for the American Psychiatric Association to coin a new disorder: Credit Score Hysteria. Hysteria is behavior exhibiting uncontrollable emotion, such as fear and panic, and loss of rational thought. Credit Score Hysteria is characterized by a person going to extreme lengths, such as destroying their financial well being, in a vain (and always unsuccessful) [...]
Continue Reading →1. You can’t take it with you.
Do you really want someone at your funeral to stand up and say, “My friend Joe was a great guy; he had a credit score of 807.” I sincerely hope you define your life in more meaningful ways. I suppose you could have your credit score placed [...]
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I filed for Chapter 13 Bankruptcy in 04/2002. It was discharged in 03/2004. It has been more than 7 years from filing, so the chapter 13 bankruptcy is off public records section of my credit report. My credit score with TransUnion and Equifax is 800+. But on Experian, one lender is reporting status as [...]
Continue Reading →Your credit report is better termed as your credit history; it is a record of your various credit accounts and transactions that is prepared for the benefit of other lenders. Your credit report has 4 sections that are relevant: (1) Personal information, (2) Trade lines (this section is where all your accounts are listed), (3) [...]
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Just a quick one – Recently got a chapter 7 discharged all went well and was wondering this, my son was an authorized user on several cards (24yrs old) and when all was well with me his credit report was fine,but now would my bankrupcy discharge be on his report or effect him [...]
Question:
During a ‘stay’ ( I think that’s what it’s called) is it normal for creditors to report ‘past due’ on your credit report. I pulled all three bureau’s and some show past due, and some didn’t. I am trying to improve my credit score. I have disputed one item that was being [...]
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Should I Stop Paying On Credit Cards Prior To Filing Bankruptcy?
I have been meaning to write on this topic but Jonathan Ginsburg over at the Bankruptcy Law Network recently wrote a similar piece. Although I mostly agree with Jonathon’s points, I think some additional clarification is in order.
As with any practical advice surrounding bankruptcy, the answer to [...]
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