Legal Question in Bankruptcy in Utah
Bankruptcy time
I just filed BK, will that disqualify me from purchasing a home a year from now. How far back can lenders request a credit report? In Utah how long does a BK stay on your record?
Asked on 11/18/03, 7:56 pm
1 Answer from Attorneys
Alvin Lundgren
Alvin R. Lundgren, L.C.
Re: Bankruptcy time
The decision on a home purchase is up to the lender, who will evaluate your credit and income situation, along with down payment. Often after a year or two with good credit and income some lenders will make loans, but at a higher rate of interest. The bankruptcy will stay on your credit for at least 10 years.
Answered on 11/19/03, 9:43 am
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