frogfoot Posted December 1, 2004 Report Share Posted December 1, 2004 What will filing a second BK while the first one is still on my CR do? I dischareged a little over 7 years ago. A divorce is making a second one attractive. But what will it do to my chances of securing a home loan? Link to comment Share on other sites More sharing options...
LadynRed Posted December 1, 2004 Report Share Posted December 1, 2004 You cannot file another CH 7 unless its been more than 6 years from the FILING date of the last one. Since the 1st one will be on your credit reports for at least 3 more years (total of 10), then a 2nd FRESH CH 7 is going to really kill you credit-wise for at least 5 years - 3 until the 1st one drops off plus 2 more before you could even come close to qualifying for a decent mortgage rate thru FHA. Link to comment Share on other sites More sharing options...
CreditChallenger Posted January 7, 2005 Report Share Posted January 7, 2005 Lady, am I reading that correctly? If the first BK drops off in 3 more years, then nobody really has a clue about the first one anymore. Wouldn't it seem like the person has one BK instead of 2 after the first one drops off? And what if you could get the initial BK off your reports? T Link to comment Share on other sites More sharing options...
LadynRed Posted January 7, 2005 Report Share Posted January 7, 2005 Once the 1st one drops off at 10 years, its gonzo.. can't come back, so yes, creditors would only see 1. However it would be 'fresh' and that will affect things. If you manage to get the first one off early, you may be a little better off, but its still a public record and could be uncovered if they want to dig that hard. Link to comment Share on other sites More sharing options...
momof5 Posted January 7, 2005 Report Share Posted January 7, 2005 It wouldn't be that fresh.... by the time the first one dropped off, the second would be 3 years old. Link to comment Share on other sites More sharing options...
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