Lenders for far too long have been discriminating against people who have bankruptcy I don't care how good the person's credit score is banks and other lenders decline or blacklist people whom have any type of bankruptcy Chapter 7 or 13. I for example have worked extremely hard at rebuilding my credit but I feel I am being being classified as 2nd rate garbage to lenders all because of a 4 year old bankruptcy. 4 years needs to be to limit on which all lenders should not be able to hold it against you after 4 long years. Even 5 years would be good for bankruptcy people whom had troubles because mostly now medical bills are a huge problem in this country. If you do get a credit card or lender whom will give you credit with a bankruptcy you get small limits and sky high Apr's. Myfico.com customer care said and I quote "Fair Issac Company no longer counts the bankruptcy against your Fico score after the 4 year marker she said you won't get anymore points when it comes all the way off your consumer reports".
But banks and mortgage companies abuse the system and decline people with bankruptcy. After 4 or 5 years at the maximum by law it shouldn't be counted against you even if its listed on your credit report but like unless I said you filed on the lender in that bankruptcy. I am asking on behalf of me and all these signatures from all these people we would like to see some reform on this issue.
Michael Charles Cook Dst
It makes it more fair for people who filed bankruptcy to get better credit products and not get stuck with those subprime rate cards or mortgages and finance companies. Its actually a very profitable market according to one credit card issuer I talked to in president's of the banks office a vice president of Capital One they specialize in people with credit problems. I think its time we the people make our government change the way bankruptcies are treated after 4 years.