I filed a CH7 in Sep. of 2003, and was discharged in Dec of 2003. I could swear, but I cant find any proof, that at that time, the rule (law?) was that the CH7 would stay on my credit report for 7 years. I know now that the law is saying 10 years. I also know that somehwere around 2004 / 2005, the bk laws changed, but I don't know the specifics of those changes.
I guess my questions are: Am I dreaming that back in 2003, a chapter 7 was only supposed to say on the books for 7 years? If I am possibly right that back then, it was 7 years, and now it's 10, I would have to assume that the change in the laws in 2004/5 changed this? And if thats right; That sucks that they back dated the rules to include me. It just doesn't seem fair? But maybe I'm completely bonkers, too. I'm hoping one of you knows for sure. 
Of the 3 agencies, my BK has dropped off of 1 of them, and the other 2 still show it. Thats what really keeps nagging at me. If it dropped off one, why not the other 2?
My Fico scores are now 710, 720 and (experian estimate 770 from citi credit monitoring), so I guess I'm in ok shape, but it just naggs at me regarding what the law was back in 2003.
Please let me know if you have any definative info or could point me to some web link that could explain this? The only negative on any of my reports now is the Bk.
Thanks in advance for your time and help
@cab2 wrote:I filed a CH7 in Sep. of 2003, and was discharged in Dec of 2003. I could swear, but I cant find any proof, that at that time, the rule (law?) was that the CH7 would stay on my credit report for 7 years. I know now that the law is saying 10 years. I also know that somehwere around 2004 / 2005, the bk laws changed, but I don't know the specifics of those changes.
I guess my questions are: Am I dreaming that back in 2003, a chapter 7 was only supposed to say on the books for 7 years? If I am possibly right that back then, it was 7 years, and now it's 10, I would have to assume that the change in the laws in 2004/5 changed this? And if thats right; That sucks that they back dated the rules to include me. It just doesn't seem fair? But maybe I'm completely bonkers, too. I'm hoping one of you knows for sure.
Of the 3 agencies, my BK has dropped off of 1 of them, and the other 2 still show it. Thats what really keeps nagging at me. If it dropped off one, why not the other 2?
My Fico scores are now 710, 720 and (experian estimate 770 from citi credit monitoring), so I guess I'm in ok shape, but it just naggs at me regarding what the law was back in 2003.
Please let me know if you have any definative info or could point me to some web link that could explain this? The only negative on any of my reports now is the Bk.
Thanks in advance for your time and help
Hello and welcome.
I'm no BK expert by any means because my BK was so long ago (1993).
I can only say that my Chapter 7 stayed for the entire 10 years. And as far as I know it is still 10 years for a Chapter 7. Chapter 13 BK is 7 years. This is the CRTP according to myFICO.
From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".