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For Chapter 13 bankruptcy, there is a two-year waiting period from the discharge date and a four-year waiting period from the dismissal date. The waiting period also depends on the type of loan ...
Depending on whether you filed Chapter 7 or Chapter 13, it'll take two or four years to qualify for a conventional mortgage, one or two years for FHA or VA loans, and one or three years for USDA loan.
Bankruptcy waiting period. Foreclosure waiting period. Conventional loan. 4 years for Chapter 7 or Chapter 11 (2 years with exceptions); 2 years from discharge or 4 years from dismissal of Chapter 13
The disadvantage of filing for personal bankruptcy is that, under the Fair Credit Reporting Act, a record of this stays on the individual's credit report for up to 7 years (up to 10 years for Chapter 7); [5] still, it is possible to obtain new debt or credit (cards, auto, or consumer loans) after only 12–24 months, and a new FHA mortgage loan just 25 months after discharge, and Fannie Mae ...
Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]
An uncontested divorce is a divorce decree that neither party is fighting. Over 40% of American children will experience parental divorce or separation during their childhood. [ 16 ] In a study of the effect of relocation after a divorce, researchers found that parents relocating far away from each other (with either both moving or one moving ...
Advantages of filing for Chapter 13 bankruptcy. While bankruptcy will stay on your credit report for up to seven years, there are multiple reasons you may want to choose Chapter 13 over other options.
That being said, it can be discharged through a Chapter 7 bankruptcy. Under Chapter 13 bankruptcy cases, a portion of medical debt may be included in your repayment plan.