08-28-2012 11:58 AM
You may have seen my previous posts if not here is my situation:
I decided to file Chapter 7 in June 2012 after I recieved a 25k judgement on my car that was reposessed in 2011 (layed off so I couldn't make payments). My income drastically changed 45k to 90k so my lawyer changed my filing to Chapter 13. I have my 341 meeting September 10th but I am reconsidering going through with the plan. I think I will be able to pay off my debt in a year or two and don't want to be "tied down" for five years. Me and my wife have 4 children and would like to purchase a house in 3 years.
My questions are:
If I decide to dismiss my bankruptcy will it show as "dismissed"?
Will it drastically change my FICO scores, negat. or posit.?
Will I be able to apply for a mortgage loan with it showing dismissed?
This has been a roller coaster for me and my wife and the paymenst have not even started yet!
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO