Legal Question in Bankruptcy in Texas
Purchasing a house after a bankruptcy
My fiance is considering Chapter 7 bankruptcy. After we get married, I want to purchase a home. Will her filing Chapter 7 hurt us in out attempt to purchase a home a year or two after the filing?
Thank You
1 Answer from Attorneys
Re: Purchasing a house after a bankruptcy
Technically, her Chapter 7 bankruptcy will remain on her credit report for 10 years for most debts. Many creditors will disregard or discount the impact of a bankruptcy filing after 7 years ("the old rule") and some will do the same after only a couple of years. Unfortunately, some creditors will reflect her filing on YOUR credit report history after you are married, so you should keep an eye on your credit history to avoid this from happening. If it does, contact the credit reporting agency.
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