My husband lost his job in Oct 06, we filed BK in December 06 to stop the foreclosure on our house and to by time to try and sell the home. The home never sold and the loan went into forclosure. Because of that, the BK was never finalized or discharged. Can we dispute this to get this off our credit report and will this help improve our credit score? A year later, we are trying to apply for credit and our denial reasons we are seeing is because of the BK.
We had a student loan which was part of the BK (My mom was listed as a co-signer but was listed first on the loan application) that company has since come back and said that because we filed for BK that she is no longer responsibile for the account and now it's just under my husband's name.....Does this make sense to anyone else? Should this account be removed all together?
I am confused. Your BK was discharged or dismissed? Big difference in terms here. If discharged, and you still lost your home to foreclosure, then you need to pull your credit reports and make sure everything is reporting as IIB/zero balance. Then you need to read the credit 101 thread and start the rebuild process. Then you should be able to finance a new place (in 2 years or more)
You can't get a BK removed for 10 years from your credit report even if discharged or dismissed because you did file. So in that regard, you are stuck.
Student loans cannot be included in BK, so you are still responsible for the debt.
When we filed for BK my husband had a loan with Sallie Mae and they removed him altogether from the account and went after my DH's father since he had co-signed the loan. To this day, my husband cannot speak to Sallie Mae about the status of the loan, only his father can, but they sure do cash our check each month!