- Honestly, it feels like there’s no rhyme or reason sometimes.
- From what I’ve seen, some lenders are super strict about the “7 years” thing, while others just want to see you’ve rebuilt and aren’t a risk anymore.
- I had one lender tell me they care more about “patterns” than the actual date—like, if you’ve got a solid track record since then, that can matter more than the bankruptcy itself.
- But yeah, it’s still a bit of a lottery. One friend got denied for something tiny even though their bankruptcy was ancient history... go figure.
- I guess the only “secret formula” is: don’t assume anything and always have backup options.
Yeah, I’ve seen folks get tripped up by stuff that seemed ancient, too. One client of mine had a bankruptcy from nearly a decade ago, but what really mattered to the lender was a couple of late payments in the last year. It’s wild—sometimes the “old” stuff isn’t as big a deal as recent habits. I always tell people to keep everything squeaky clean after a bankruptcy, just in case. You never really know which detail will catch someone’s eye...
Title: Does an old bankruptcy matter more than a recent one?
Funny how lenders can be laser-focused on the tiniest recent blip, while stuff from years ago barely gets a mention. I’ve run into this a few times myself. Had a guy I was looking to partner with—he had a bankruptcy almost falling off his credit report, but what actually tanked the deal was a bounced utility payment from six months back. The underwriter just kept circling back to that one late bill, like it was some kind of red flag waving in their face.
I get why folks assume the big stuff—like bankruptcy—would be the main hurdle, but honestly, lenders seem way more interested in what you’ve done lately. It’s almost like they want proof you’ve actually changed your ways, not just that you survived the old mess. Can’t really blame them, I guess, but it does feel a bit backwards sometimes.
You’re spot on about keeping things spotless after a bankruptcy. I tell people not to let their guard down just because the worst is “behind” them. It’s those little slip-ups that seem to haunt you. One late payment and suddenly you’re explaining yourself all over again.
Still, I wouldn’t say the old stuff never matters. Some lenders are stricter than others, and every now and then you’ll run into one who’s stuck on something from years back. But from what I’ve seen, if you can show a clean record for a couple years, most folks are willing to look past ancient history.
It’s frustrating, but I guess it’s just part of the game. Keep your nose clean and don’t give ‘em any new reasons to doubt you—that’s about all you can do.
Honestly, I’ve seen lenders get more worked up over a recent $50 late fee than a bankruptcy from seven years ago. It’s wild. They just want to see you’re not repeating old habits, I guess. Clean recent history seems to matter way more.
That lines up with what I’ve seen, too. Years ago, I had a bankruptcy on my record, but once I kept things clean for a while, lenders barely blinked at it. But one missed payment last year? Suddenly, I was getting all these questions. It’s weird, but honestly, it’s kind of reassuring that you can bounce back if you just keep things tidy now.
