Requirements on Bankruptcy Admissions

This is a discussion on Requirements on Bankruptcy Admissions within the Bankruptcy Law Questions forums, part of the Legal Questions & Answers Forum category; I believe there are laws about how long you have to admit to bankruptcy. I thought it was 7 years, but I'm not sure. I've noticed on some applications it ...

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    Requirements on Bankruptcy Admissions

    I believe there are laws about how long you have to admit to bankruptcy. I thought it was 7 years, but I'm not sure. I've noticed on some applications it will ask if you've gone through bankruptcy in the past 7 years and others will ask if you have "ever" gone through bankruptcy. What is the legal point of view on this? Is a person required on a credit app or other legal document to admit to bankruptcy if it was more than 7 years ago, even if the question says "ever" or something similar?


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    If the question says whether you have ever declared bankruptcy, you have to answer honestly and say you have.
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    Thanks for the response. It is amazing that something that is supposed to "go away" can be still present because of the wording of the question. It makes me wonder if companies should be barred from asking the "ever" version.


 

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