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What information needs to go on a credit application after Chapter 7 Bankruptcy?

Gainesville, FL |

I did not reaffirm my mortgage but am still living in the house and current on my payments to the bank. The bank has agreed to this arrangement even though I'm not legally required to make payments. I'm rebuilding my credit score. Do I have to list the monthly payment on a credit application? I live in Florida.

Attorney Answers 4

Posted

Youn must be truthful on a credit application. Don't over-think this. If the application asks for your mortgage payment amount, insert the amount you are paying for your mortgage.

Posting questions anonymously and receiving general answers do not substitute for consulting with an attorney licensed to practice in the jurisdiction in which you live. Answers posted here by Kevin C Gleason are only intended for general education of the public on legal matters. Please consult a qualified professional before deciding what to do about your situation.

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Posted

What is the question on the application (that you did not tell us)? What is the straightforward answer to the question? That is how to complete the application.

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Posted

When applying for credit, one of the things they look at is your ability to make payments on the debt you incur. if you claim to have no payment for a mortgage or rent, that would be misleading. You should be truthful when applying for credit.

First, the firm is a debt relief agency according to the U.S. Bankruptcy Code. We help people file for bankruptcy. We also do other stuff and we do it well, but Congress wants me to post this notice. Second, nothing on this site is legal advice. You are not my client unless you enter into a written agreement signed by you and me.

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Posted

You're not legally required to make payments.
If you don't, they're not legally required to remove their lien.
If you're making the payments, then by all means list them on the application.

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