Tag: credit report

Foreclosure, Bankruptcy, and Short Sale on Credit Report
Credit Bad, How to Build Credit, Credit Score
Question submitted by Mike Lavios, Lake Oswego, OR
Question: How long will the following stay on a clients credit report? – Foreclosure, Personal bankruptcy, Business bankruptcy, Short Sale
Mike – here is your answer:
– Foreclosure – 7 years
– Chapter 7 BK – 10 years
– Chapter 13 BK – 7 years
But remember, you do not need a clean credit report to have a high credit score. The key is to reestablish your credit from the beginning, if you do that, your credit score will jump quickly. As I say often, if you reestablish your credit the right way, you will have a 720 Credit Score 7-8 years before the bankruptcy falls off your credit report.
Foreclosure, Bankruptcy, and Short Sale on Credit Report
Credit Bad, How to Build Credit, Credit Score