I had a bankruptcy claim in Jan/2000 and was discharged in Feb/2002, and have never defaulted in any payment since 2000. I was just recently financed by a car manufacturer for a new car at 3%, do creditors take into account when financing someone who has a bankruptcy, their credit score and history since that date 7 yrs after the claim was registered or from the date of discharge, I am confused on this issue.
rebuilding credit after registering for bankruptcy
Posted on Thursday, August 9, 2007
posted by Questions @ 10:54 pm
1 Expert Comment:
At August 14, 2007 |
11:52 pm
, Barton Goth, GCO, Bankruptcy Trustees Said...
What largely happens is your creditors will look at your credit history from the date your bankruptcy is discharged and the more positive comments you have on your credit report / credit score since that date of discharge teh more likely you will be accepted for future credit.
As for the 7 year rule, this rule only really has an impact if you do nothing. If you make no attempt to rebuild or re-establish your credit after discharge you can expect that 6 years from the date of your discharge (which typically happens between 9-12 months, hence the 7 years typically quoted) the informaiton relating to your bankruptcy is automatically purged and you start a R0.
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