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Does a bankruptcy or DUI over 10 years ago have to be mentioned in an SBA Loan?



Does a bankruptcy or DUI over 10 years ago have to be mentioned in an SBA Loan?

Geesh, no. In fact, in most states, no records exist of either after such a time period, and in states that do keep Drivers Records longer than that, a Court Print (The record anyone could ever see besides a Judge) only goes back 10 years.
probably but only if they ask.
If they ask "Have you EVER filed for Bankruptcy?", it is best to answer honestly. If you say no and they find it, you're busted.

But if they are not that direct about it, you certainly don't have to bring it up.

Edit Note: In reference to the person's statement above, a Bankruptcy CAN be found in public record and past court documents even if it is old. I am a Bankruptcy Paralegal and all I had to do was call a toll free phone number to find people's past bankruptcy information....I found one as far back as 1980 with one phone call.

I don't know about DUI's though....not my department.
Depends on if the bankruptcy is still on your credit report, most of the time they fall off after ten years. You can look for free at www.annualcreditreport.com if it鈥檚 not on there then you don鈥檛 have to tell them anything. As far as the DUI goes I鈥檓 not for sure how long that stays on your driving record. You could try contacting you insurance agency they could find out for you I鈥檓 sure. If there nothing on you driving record then I wouldn鈥檛 tell them anything.
DUI.. no.

Bankruptcy...They will pull your credit before you get the loan. If it's still on your credit, they will see it. If it's not, and they don't ask, you don't have to mention it.

If they ask and you lie, and they find out (which is easy to do) you will automatically be denied.
Well I just successfully secured a SBA loan and I am looking at my application right now and it does not ask about DUI or anything like that , but it does specifically ask " Have you ever filed any petition under the Bankruptcy act " I know that that info is suppose to fall off after 10 years but if I was you I would just get a credit report from all three agencies and see if it still shows , you don't want that to show up on your record an SBA loan is already hard enough to get you would just make it that much harder if that info is on your credit report.

Hope That Helps
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