Dear DU Loan Application Gurus Help!!

[Gold Metal Flake]

I'm filling out a loan app. I went through a personal bankruptcy back in the mid-1980s. Credit has been spotless since. This loan app (for car loan with a credit union) asks if I have "ever filed for bankruptcy". Is a bankruptcy from two decades ago still required to be reported?

[Fredda Weinberg]

1. Your credit history can reflect bankruptcy up to 10 years

But I'd read this article

http://www.myvesta.org/column/092004.htm

[Gold Metal Flake]

2. From your link...

But remember, even though the bankruptcy does not appear on your credit report, you must still disclose it if you are asked on a credit application. Otherwise, you can commit credit fraud, which has some serious consequences.

The bankruptcy does not appear on any of the three major reports, but I must still disclose it since I have been asked on the app. That answers my question, thanks! :hi:

[Floogeldy]

3. Check out www.daveramsey.com

Don't EVER borrow money to buy a car. It is like throwing money down the toilet.

[Gold Metal Flake]

5. Just wait until I pay it off early.

I got a plan, and it does not involve carrying the note to completion. Makes lenders sad. So sad. :cry:

[flvegan]

4. Required? Yes.

Does it matter? No.

Loan apps are funny...nobody looks at them. They take your name and your SSN and rub their hands together awaiting the download.

It's a disclosure, just in case they're too stupid to see/find it.

[Gold Metal Flake]

6. I think the same way.

With our assets exceeding loan value by a huge margin it should be no problem. But the last time I applied for a car loan was in 1984. Just wanna be careful.