Posted on: 24th Mar, 2013 11:25 pm
My dad and step mom want to apply for a loan, but my step mom says she will not get approved b/c she had a bankruptcy 27 years she got divorced. Are things so stringent?
Welcome Nina,
A bankruptcy which is 27 years old won't have any impact on your step mother's present loan application. She may not have it listed in her credit report at present. In such a situation, it won't have any impact on her loan application.
A bankruptcy which is 27 years old won't have any impact on your step mother's present loan application. She may not have it listed in her credit report at present. In such a situation, it won't have any impact on her loan application.
Ask your step mother to check out her credit report first and find out whether or not there are any inaccuracies as far as her bankruptcy is concerned since Adonis has already said that it shouldn't be there in her CR after 7-10 years of getting a discharge under the same.
Hello Nina, because your mom's bankruptcy happened 27 years ago and it was not recent, her loan application should not be affected. Tell your mom the best thing to do is to get a credit score check before applying, that way there will be no surprises! Hope this helped!