Chapter 7 Bankruptcy
A client asked me if their chapter 7 bankruptcy ,which was discharged 3 years ago next month, would prevent them from obtaining a loan to refinance. Their credit scores are low 600's. They have only one active credit card which appears on the credit report. Their existing 1st, 2nd, & 3rd were part of the bankruptcy, but were not re-affirmed, and they have continued making payments on all three. These, however, do not show up on the credit reports.