If I File Bankruptcy Can I Buy A House at Buying

If I File Bankruptcy Can I Buy A House. In bankruptcy, if you incur a debt exceeding $725 in aggregate to purchase luxury goods within the 90 days before filing your case, the debt is presumed nondischargeable. When you are serious about buying a new home within a chapter 13.

Chapter 7 versus chapter 13 bankruptcy. Real estate is treated very differently if it is part of a chapter 13 versus chapter 7 bankruptcy proceeding. A chapter 7 bankruptcy will stay on your credit report for 10 years, while a chapter 13 bankruptcy will stick around for 7 years.

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Chapter 13 bankruptcy is designed to allow you to keep your home, even if you are behind on payments. Waiting periods after chapter 7 is discharged vary from two to four years. If you keep your house after filing for chapter 7, the fact other debts are discharged should make it easier to pay your mortgage. Chapter 7 bankruptcy is the most common type of bankruptcy filed by americans.