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How did you answer this question? Or will this concern you in the future?

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    How did you answer this question? Or will this concern you in the future?

    You may have seen this question written several different ways on different applications.

    A. Have you ever filed for bankruptcy? B. Have you filed bankruptcy within the last 7 years? C. Is your credit history free of bankruptcy?

    In 1980's I file for bankruptcy and it was discharged. In the 1990's I got several credit cards and up to three years ago I answered: Have you ever filed for bankruptcy the same way.: NO. I honestly believed since it was not on my credit report, that I was answering the question with the correct and honest answer: You still read the saying, a bankruptcy will stay with you for 10 years, well that's somewhat true. Yes, It will stay on your credit report for 10 years but may have to explain why you file for bankruptcy the rest of your life on certain applications. Now that I decided to stop paying my credit credits I am concern that this may come back to haunt me, so I have talk with some attorneys about it. I will list the answers I received:

    Typically the misstatement in your credit card applications would only be a factor if the misstatements were made within the last 2 years. Thus there likely will be no problem regarding applications ( i am wondering from the 2 years came from?)

    Most credit cards companies would have still approved a credit card for you, so no problem. ( we could get a copy of there underwriting requirements)

    One guy told me that the most problems have to do with overstating income and then immediately not making payments. I guess if you make payments for years then there is no problem.

    It could come back to haunt you, but sometimes the credit card companies don't have the original application. ( I did them all on the Internet) I am willing to bet they do.

    One guy said: since you make payments for years, you were showing that you didn't intend to committ fraud. ( I didn't and no better now)

    #2
    Only question A would apply in your case, if what you have revealed is true. The possibility that a creditor would take you to task for answering "no" to that question when "yes" would have been the truth is exceedingly improbable - they are not going to review your credit application unless they plan to initiate an adversarial procedure. As far as what would happen if push came to shove - you might end up having to pay the entire debt to the creditor who extended you credit based upon a relatively insignificant lie.

    The ghost of Diogenes is still searching for an honest man. There are none, and if you truly believe that you are - you are lying to yourself. No harm done.

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      #3
      I had this question, or a similar question when trying to get Homeowner's Insurance.

      There is a long, long thread on the Insurance Board about this, so I will not repeat it. Suffice it to say, some insurance underwriters want to know when the BK occurred, how long it has been since you were Discharged, and what was it for. Some insurances will not take a BK survivor at all; others want at least five years between Discharge and your application for a policy.
      "To go bravely forward is to invite a miracle."

      "Worry is the darkroom where negatives are formed."

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