Filed bankruptcy 11+ years ago. Loan app is asking if I have ever filed bankruptcy. Do I need to be honest?

Of course you need to be honest--they are going to find out anyway! besides, after 11 years, hopefully it has been discharged.

Others will tell you they only go back 7 years and I am here to tell you that's a big fat lie. I know this from personal experience. Also, since legally they are not supposed to hold it against you after that time, they don't have to tell you that's the reason you were denied a loan.

Good luck!

Your first step is to see if it still shows up on your credit report. You are allowed to order a free copy of your credit file from each of the credit reporting agencies once every 12 months. This is to allow you to check your file for inaccuracies and possible identity theft. Like I said, it is free to do so once every 12 months and if the bankruptcy doesn't show up anywhere, I wouldn't be concerned about saying anything about it unless you really want to.

You need to be completely honest about past bankruptcies. They do not automatically disqualify you for a loan, but dishonesty does. Read the question carefully. If it asks whether you have ever filed for bankruptcy with out including a phrase like "in the past seven years," you should answer truthfully.

Ignore the nonsense about a "statue of limitations." There's no such thing in this context. A statute of limitation sets a time limit beyond which a person cannot be prosecuted for a crime committed in the past.

Yes , I would tell them . If your credit is now what you say it is , they will see that ,everyone at one point or other ,may have had problems with money , and they no that .

And besides Bankrupt is legal , so its not like you did something you shouldnt have done .

Now adays you can get loans even if you had bankrupt , its just a matter of paying a high interest , if it was just a matter of years , but in your case , its been awhile .

So yes !!!!!!! Be honest , if its meant to be you will get it .

I had a close relative that said no on a form like that when he should have said yes. His bankruptcy was also more than a decade in his past. Later on when he ran into difficulty with the loan-they charged him with bank fraud and said he would be going to prison!

Thank God he was allowed to stay out of prison, but that question needs to answered truthfully!

Yes, you need to answer the question correctly. To do so otherwise is mortgage fraud, which can involve financial penalties and/or jail.

It's still in your credit history and in public records, even if it doesn't show on your credit report anymore.

Mortgage companies are starting to look much more closely at applications, given the fraud that has been occurring lately, so don't chance it.

I would be honest since if they were to find out independently (which is fairly easy with a credit check), you would be in a much worse situation. Although it will probably count against you, any reasonable and rational creditor will see that it is far in the past and focus on recent history.

You need to be honest. Read the fine print where you sign, you are signing that the information you provided is TRUE. You are being fraudulent otherwise. One that long ago will not be held against you, but fraud will and is legal grounds to call in your note early (demand full payment) if they discover it after the fact. Your entire history never disappears, it is available.

I agree, don't mention it, the limitation is ten years and it should be off you credit report now. Get a free copy of your credit report. Go to www.freecreditreport.com. If it still remains, they need to get it off, you'll need to contact them. Do this be for you apply for your new loans.

You do not have to list it. It should be off your credit by now and you do not have to list it.

Most lenders only go back 7 years.