Re: Filing or Discharge date to count number of years post bk?[ Edited ]
12-20-2012 09:31 AM - edited 12-20-2012 09:32 AM
Don is right.
If you get a 13 discharged, you are presumed to have 3-5 years of perfect payment history to the court, too.
And remember, after discharge of a 13, you're 3-5 years post filing... the impact of the BK isn't nearly as bad, and, depending on timing, some of your delinquent accounts may have fallen off, too.
Regardless, both 7 and 13 are based on filing date. 6 years after filing a 7 can get someone a $7500 approval, too. Heck, I'm only 2.3 years post filing my 7 and have a visa w/ a $8000 limit. Granted it's NFCU, but I also have a Discover w/ a $2500 limit.
Ahhh okay so the filing date is the determination. So yes, whether a 7 or 13, 6 years after the filing both candidates could qualify for the same approval. Yea that helps add some clarity.
It was just boogling my mind that I could get discharged and immediately be able to obtain some high credit limits and yet many 7 filers that were just discharged were having a much more difficult time until a few years later.
Thanks for the clarification....I guess I really had answered my own question but I just wanted to make sure that I was correct in my assumption.
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