Gold Metal Flake
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Mon Feb-26-07 11:55 PM
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Dear DU Loan Application Gurus Help!! |
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I'm filling out a loan app. I went through a personal bankruptcy back in the mid-1980s. Credit has been spotless since. This loan app (for car loan with a credit union) asks if I have "ever filed for bankruptcy". Is a bankruptcy from two decades ago still required to be reported?
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Fredda Weinberg
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Tue Feb-27-07 12:33 AM
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1. Your credit history can reflect bankruptcy up to 10 years |
Gold Metal Flake
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Tue Feb-27-07 12:48 AM
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But remember, even though the bankruptcy does not appear on your credit report, you must still disclose it if you are asked on a credit application. Otherwise, you can commit credit fraud, which has some serious consequences.
The bankruptcy does not appear on any of the three major reports, but I must still disclose it since I have been asked on the app. That answers my question, thanks! :hi:
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Floogeldy
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Tue Feb-27-07 01:05 AM
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3. Check out www.daveramsey.com |
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Don't EVER borrow money to buy a car. It is like throwing money down the toilet.
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Gold Metal Flake
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Tue Feb-27-07 10:21 AM
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5. Just wait until I pay it off early. |
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I got a plan, and it does not involve carrying the note to completion. Makes lenders sad. So sad. :cry:
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flvegan
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Tue Feb-27-07 01:15 AM
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Does it matter? No.
Loan apps are funny...nobody looks at them. They take your name and your SSN and rub their hands together awaiting the download.
It's a disclosure, just in case they're too stupid to see/find it.
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Gold Metal Flake
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Tue Feb-27-07 10:24 AM
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With our assets exceeding loan value by a huge margin it should be no problem. But the last time I applied for a car loan was in 1984. Just wanna be careful.
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DU
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Sat May 04th 2024, 02:06 AM
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