Bankruptcy affecting the children?

[dapnoyqpid]

Hi everyone,

I'm 25 years old, and my parents filed for bankruptcy about 4-5 years ago (I'm not really sure what chapter it's filed under). I recently applied for a credit card and did not get approved. Then I received a letter in the mail and they listed the reason and it said "bankruptcy". If your parents' file for bankruptcy does it normally affect the children? I was already an adult by the time my parents had filed. I know for a fact that I did not sign anything or meet up with anyone on bankruptcy. Is there any advice anyone could give me on what to do next?

Thanks for your time!

-Joseph

[PoorGrammyinBK7]

Wow - have you pulled your credit reports? Go to www.annualcreditreport.com (its free there). Your parents BK should not effect you, in my opinion, but then what do I know? (not a lot or I wouldn't have ended up here )

If its on there you may have to do some cleaning up - disputing incorrect information.

Were you an authorized user on your parent's card? Maybe that was it.

I am sure someone with a LOT more knowledge than me will jump in and help you soon! Good luck!

[13bound]

just guessing....................

did your parents cosign for you on maybe a student or auto loan? in my case, i did for two of my kids and there are a few issues that came up.

[dapnoyqpid]

did your parents cosign for you on maybe a student or auto loan? in my case, i did for two of my kids and there are a few issues that came up.

Hi 13bound,

I applied for school loans on my own and the car that I drive is under their name. I didn't think about that though, but thanks for bringing that up.

-Joseph

[magyar123]

AS POORGRAMMY said, if your parents added you as an AU on any of the cards that they filed on, that bankruptcy note is also on your credit history. Just dispute the account as "not mine".

[ThreadsSnapping]

If you were an authorized user on any of their accounts that account is probably being listed as IIB and the creditor may have taken that as you filed bk previously.

Or do you have the same name as your dad, are you a jr? May just have put the bk under your name and not your dad's.

I have an unusual last name and my parents mortgage was being reported on my credit report as mine. Now if anyone could do simple math they would have realized that I was 15 when they got it and obviously not mine. I also had several of their credit cards on my report. That eventually explained why I was getting $5K+ credit lines as a freshman and all my friends were getting $500.

But the first thing to do is get a copy of your reports and find out what is on there. After that you can start disputing anything negative or incorrect on your reports. Should be a fairly simple, easy fix as the accounts are not yours.

TS

[fltoo]

Could just be an error. Do you and dad have same name?

[dapnoyqpid]

The thought of a name mix up crossed my mind at one point because my name is Joseph and my father's name is Jose. I'll definitely get a credit report and see what's going on. BTW my older sister also has BK under her name as well and she never filed at all. Thanks for your responses!

-Joseph