Are exceptions made for the time limit of reporting a bankruptcy on the credit bureau?
I have suffered from PTSD since leaving the military in 1974. I was not aware of my condition due to the loss of memory. Only in 1996 did some of my memories return; and more gradually since then.
Because of my condition, I ended up in bad marriages. They took advantage of me forcing me into bankruptcy 3 times.
3 marriages, 3 bankruptcies. The first two were for the houses. The third was just for accumulated debt in my name.
Credit companies seem to give credit to our spouses based on the man’s income and then sue the man for return of the funds. Since I started treatment for the PTSD finally my life has been put in order. I have a wonderful wife and a fantastic son.
We have been trying to buy a house and I see that I am on the bureau for 14 years, with 3 years left. We seem to suffer from this and it is starting to take effect on our relationship. I have had a solid income of at least 2 1/2 times the average family and feel that my medical condition should not have affected me in the manner that it does. Can someone help with this dilemma?
The credit bureaus will not remove the record of your bankruptcies until the prescribed time expires. You can have a note placed on your credit report, explaining your situation.
However, if you have a good credit rating and a sufficient down payment you may be able to purchase a house, in spite of the record of your bankruptcies.
I suggest you contact a mortgage broker to explore this.