Posted on: 29th Apr, 2009 06:49 pm
I found out my mother filed chapter 13 a year ago over $4500. I am shocked and a little hurt that she did not ask me to help her. She has alot of mental issues and does not understand what she has done. Two weeks ago she lost her home to a tornado and it looks like she will actually owe the mortgage company after the insurance check is cut for the house. So basically she is homeless with bad credit. If I give her the money to pay off the bankrupcy how long will it take to get her credit back? Is there any immediate way to get her out of the chapter 13 and clear her name? Noone but me will help her financially but I am limited on my funds. Please send any guidance.
Thank You
Thank You
hi bombshellblues,
it will take quite some time to improve her credit. a chapter 13 bankruptcy will remain on her credit report for at least 7 years. moreover, it will reduce her credit score by 200-250 points. however, she can take some steps in order to improve her credit score. check out the following link to know more:
http://www.mortgagefit.com/credit-rating/credit-repair.html
thanks
it will take quite some time to improve her credit. a chapter 13 bankruptcy will remain on her credit report for at least 7 years. moreover, it will reduce her credit score by 200-250 points. however, she can take some steps in order to improve her credit score. check out the following link to know more:
http://www.mortgagefit.com/credit-rating/credit-repair.html
thanks