Credit Rating Issue

[Connlan]

I submitted Chapter 13 however the situation was ignored. I also did a brief selling on my home. How if the credit agencies be confirming this? Additionally so far as how this really is seen for potential credit, is that this virtually just like easily submitted bankruptcy and had the home foreclosed on? I'm being informed that it is.

[Azi]

Both the bankruptcy and the short sale will be reported.
The short sale will be reported that the debt was satisfied by settlement, which is a negative item.
In short, Jack is right.

[Diggory]

From the standpoint of future credit, a short sale is just as bad as bankruptcy or foreclosure.Don't count on qualifying for credit (other than high risk sub prime rates) for a few years.