03-13-2013 10:40 AM
MY dad and step mom want to apply for a loan, but my step mom says she will not get aproved b/c she had a bankruptcy 27 years she she got divorced. She works at a school and they wanted her to sighn on a checking account but was told she could not b/c of her bankruptcy. This was about 7 years ago. So now she wont try for the loan from credit union b/c she thinks its still on her report. I have run her credit and its not on their and my fico shows her to have a 767. She has not missed a credit card payment etc in 20 plus years. My dad filed for bankruptcy in 2005 & he was denied the loan from chase b/c he filed on a card from them.His credit now is great with no baddies just the bansruptcy shows up. His score is a 735. They want to appyly for a $12000 loan to get a travel traIer.
Thanks for any advice given
03-13-2013 10:48 AM
03-22-2013 10:15 PM
With those scores they should be fine.
BK is gone after 10 years for a Ch7 and 7 years for a Ch13. It is however a forever public record, so your step mom may have had problems with her job due to the fact that they checked supplementary reports that keep that info - or they ran her through a public record database.
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