Old Bankruptcy

[Anonymous]

My hubby declared bankruptcy on his business (not incorporated) over 10 years ago....close to 11 years now.  The home we lived in was included in that bankruptcy.  We needed to live somewhere so we kept paying on that home for about 8 years.  We moved to another city and because of some personal family problems we decided to just let the house go back to the bank about 1 year ago.  Now all of a sudden my  credit report has gone from 844 to 674 and I am just sick!! I always pay before due dates and always pay off each month or a very large chunk of a balance and it is always fully paid in 2 or 3 months.  How long will this be on my report, or is there any way I can get rid of it!!  Thanks in advance for any help/advice from anyone!!

[Anonymous]

Hi bestdoglover,

Welcome!  Glad you're here on the forums and posting - although I'm sorry it's under such difficult circumstances.

Am I understanding correctly that your home was in foreclosure?

I'm guessing that your credit report is not showing the BK (filed by DH, not you)?  And, in fact, his CreditReport is likely not showing the BK either due to its age.

And I'm guessing that the (foreclosure?) is showing on your CreditReport.  Am I correct so far?

If so, the old BK is not affecting your credit score; but the recent foreclosure is.

Let me know if I've got it right so far, and you'll get some helpful responses.