After how many years am I no longer required to disclose past bankruptcy?
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I’m referring to mortgage applications. I’ve discharged from it 8 years ago. Do I need to disclose it in a mortgage application?
It depends on how the question is phrased
Chapter 13 bankruptcy ages off your credit report in 7 years. Chapter 7 bankruptcy ages off in 10 years.
While the bankruptcy appears on your credit report there’s no point not to disclose it. After it falls of, the answer is that it depends how the question is actually phrased.
Usually the question is phrased like: “Have you filed for bankruptcy in the past XXX years?” where XXX is between 7-10. However, if the question is phrased like: “Have you EVER filed for bankruptcy?” then you must disclose it even if it’s no longer on your report.
Don’t risk lying. They usually find out, and then you’re in a problem. It’s a federal offence to lye in a credit application.
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