bankruptcy dismissal reasons
I received a notice of dismissal from the US Bankruptcy Court. How does this effect my credit?
I petitioned the trustee to dismiss my Chapter 13 case because I could not afford to pay $1400.00 a month anymore in addition to a $1200.00 mortgage and other expenses. My primary reason for filing for Chapter 13 was to protect to house from forclosure. I sold my home and have a settlement date in two weeks. My question is since the Chapter 13 was dismissed on 8/20 what impact does this have on my credit score. Is it viewed just like it would if my case was “discharged”? Does my house being sold help my score any? Thanks!
Your credit score was probably pretty low before you file bankruptcy. That lowered it. Getting the bankruptcy dismissed won’t improve your score. Your creditors are going to be zooming in now. You may find yourself getting all sorts of summons.
If you are using the proceeds from the sale of your house to pay off your other debts, than that will help.
