Bankruptcy Dismissal

Anonymous · ‎03-05-2018

I have a dismissed Chap 13. despite my efforts in researching, I cant figure out what the blueprint is to over coming this dissmissal as it realtes to creditors, I know it will likely be long and detailed but can anyone tell me what that process is to being able to get around the flat credit denials based on the dismissed banckruptcy?

Thx

Anonymous · ‎03-05-2018

If you have a dismissed (not discharged) Chapter 13 bankruptcy, and still have debt that you owe, you may find it difficult to get additional credit. This is because you no longer have the protection under bankruptcy, and remain liable for debts. Depending on how long ago the case was dismissed, your accounts may be reporting a $0 balance errenously.

I'm not aware of anything "special" you can do, besides dispute the dismissal (though this sounds like it is accurate). It is up to each lender if they are willing to extend credit. Is/was converting to a Chapter 7 case an option?

Anonymous · ‎03-05-2018

I basically blew it I didn't understand at the time what the dismissal meant completely 2 years ago I'm now trying to rebuild but now sure how best to do it

tooleman694 · ‎03-05-2018

I went thru this years ago, it was very hard to overcome.

But after a couple years I was finally able to get a cap 1 secured card, and then an autoloan. After that point I was able to grow into more things.

Also had to do a lot of credit repair.

Anonymous · ‎03-05-2018

A dismissed bankruptcy is treated as any other BK when it comes to credit. It will stay on your report for 7 years and affect your credit for 7 years.

tooleman694 · ‎03-05-2018

Maybe times have changed, but when I had mine is was the kiss of death. No one would touch me and it stayed on my reports for 10 years.

It was like 4 to 5 years before anyone would touch me.

Anonymous · ‎03-05-2018

@tooleman694wrote:
Maybe times have changed, but when I had mine is was the kiss of death. No one would touch me and it stayed on my reports for 10 years.

It was like 4 to 5 years before anyone would touch me.

It's not the kiss of death, I have a dismissed BK from 2015 and I've been able to rebuild. Most of my BK accts have dropped off my report. I just have the BK and student loans that are negative. BK has always been 7 years for EX and TU, EQ used to keep it for 10 years but they only keep it for 7 years now.

pizza1 · ‎03-06-2018

@Anonymouswrote:
@tooleman694wrote:
Maybe times have changed, but when I had mine is was the kiss of death. No one would touch me and it stayed on my reports for 10 years.

It was like 4 to 5 years before anyone would touch me.
It's not the kiss of death, I have a dismissed BK from 2015 and I've been able to rebuild. Most of my BK accts have dropped off my report. I just have the BK and student loans that are negative. BK has always been 7 years for EX and TU, EQ used to keep it for 10 years but they only keep it for 7 years now.

Wherre in the world are you getting that information from? Its a known fact that a BK 7 stays on your reports for 10 yrs from file date. Its states it on your actual CR under the PR section.

Anonymous · ‎03-06-2018

@pizza1wrote:
@Anonymouswrote:
@tooleman694wrote:
Maybe times have changed, but when I had mine is was the kiss of death. No one would touch me and it stayed on my reports for 10 years.

It was like 4 to 5 years before anyone would touch me.
It's not the kiss of death, I have a dismissed BK from 2015 and I've been able to rebuild. Most of my BK accts have dropped off my report. I just have the BK and student loans that are negative. BK has always been 7 years for EX and TU, EQ used to keep it for 10 years but they only keep it for 7 years now.
Wherre in the world are you getting that information from? Its a known fact that a BK 7 stays on your reports for 10 yrs from file date. Its states it on your actual CR under the PR section.

I'm referring to a dismissed BK13. The OP had a BK13.

Anonymous · ‎03-06-2018

Were u dismissed in 2015 or did u file in 2015?