Get My Credit Report
The official government website is located at www.AnnualCreditReport.com. You will receive a free credit report but will not receive your credit scores.
You say, I know it is important to Get My Credit Report and check it on a regular basis. But, what if you had to file bankruptcy, how does that affect your credit scores?
Bankruptcy Credit Report
If you have run into hard times and had to file bankruptcy it is important to understand what impact that has on your credit scores. You will want to do everything you can to turn things around and start improving your credit scores from the negative impact that bankruptcy has caused.
A Chapter 13 Bankruptcy can stay on your crdit report for up to 10 years, but is usually removed after 7 years. If you have paid off all your bankruptcy items then this filing will show as "discharged" on your credit report and will have a lot less negative impact on your credit scores. So, if your bankruptcy IS discharged be sure that this is the status that reflects on your report.
A Chapter 7 bankruptcy may display for 10 years from the date of filing on your credit report.
Buying A Home After Bankruptcy
It is possible to buy a home after you have filed bankruptcy if your credit scores will allow you to qualify. If the bankruptcy has been discharged and your credit scores meet the lender's guidelines then the bankruptcy will usually be no problem in getting approval.
If you have been making payments for two years on time and you get a letter from the bankruptcy trustee granting permission to purchase a home, then you can usually get approval for a FHA loan, provided your credit scores and other qualifing requirements are met.
Normally a trustee will grant a purchase if your house payment is about the same or slightly higher than what you are currently paying in rent.
For additional tips concerning obtaining your credit report and how to improve your FICA scores visit How Do I Improve My Credit Score .
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