Bankruptcy Law Questions? Ask a Bankruptcy Lawyer.
Once filed, a Bankruptcy stays on one's credit report for 10 years, whether or not the case is dismissed, and whether or not the debtor gets a discharge.
I knew it may stay in records, but I was under the understanding that if dismissed, it will not count as such in the eyes of creditors. For example, banks will lend Conventional and FHA mortgage loans only after 3 years of discharge (and other criteria), but if there was a dismissal, it wouldn't count as if it happened. Please confirm or deny/explain.
I am not familiar with mortgage lender criteria. Whether or not a mortgage lender will require a minimum amount of time after a Bankruptcy filing without a discharge is a question that belongs in the Real Estate Law or Finance sections.
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