Re: Old debt, new husband and bankruptcy

yes it is true

Re: Old debt, new husband and bankruptcy

Thanks for your posting.

I will try, but I doubt I can be as brief as the other attorney that answered your question.

To answer your first question, there are different time limits depending upon what is being reported. Here's a list of the most common types of negative information that appear on credit reports, how long each remains on a credit report, and from what point the time is measured.

Delinquencies (payments made 30 to 180 days late): seven years from the date of the missed payment.

Collection accounts (turned over to a collection agency by the credit grantor): seven years from the date of the initial missed payment that led to the collection. If you later pay the account in full, it will be marked "paid collection" on your credit report. Note: Recent amendments to the Fair Credit Reporting Act require credit grantors to report the date of original delinquency to the credit bureaus, and the date appears with the account and with any associated collection accounts. Thus, that original delinquency date sticks with the account even if it is reassigned to new collectors, and the information ages off your credit report after seven years no matter how many collectors handle it. In addition, once the account information has aged off your report, it should not be reported again, even if a new collection agency takes it up

Charge-offs (accounts written off as a loss by the credit grantor): seven years from the date of the initial missed payment that led to the charge-off.

Closed accounts (no longer available for further use, whether closed by you or the lender):

-- with a zero balance: seven years from the date they are reported closed.

-- with a balance: seven years after you make your final payment.

The answer to your second question is more simple: YES, you can file bankruptcy, on your own, without affecting your husband in any way, except for community property debts (debts you both incurred after marriage).

Thanks again, and if you have any questions or need more information, please feel free to call me at 1-877-568-2977 (toll free) or email me. I'll help you in any way that I can.