Chapter 7 filed Jan 1 2004 -

[Anonymous]

I had filed chapter 7 in Jan 2004.  When should I expect this to fall off my credit report. How will this affect my FICO score?

[sunrise]

Will stay on for 10 years!  So, Jan. 2014 it should come off.  In late 2013, I would send a dispute on it and see if it comes off a couple of mo's early?!  I heard it has happened!  You should be able to have decent scores right now...usually 2-2.5 years after BK discharge lenders are willing to take a look at you again.....IF you have been really good with your credit since BK. 

Have you re-established your credit since the BK?  Secured cards and sub-prime cards are where I started immedialtely after my BK was discharged in 2003.  I now have mid 600's on my credit scores....but I also had high util recently....now that I am paying them back down...they should be back in the high 600's where they were this time last year!!

DH has high 600's now and his scores should hit low 700's when util is below the 10% mark.  We both filed the 2003 BK.  Hope this helps!

[haulingthescoreup]

Hi, hotelexec: Welcome to the forums! It is true that BK's will stay on for a long, long time, but you will be surprised at how quickly your scores and your "attractiveness" to creditors will rebound. Keep working on your general credit profile, and you will be back in business in no time. Check out the "BK-friendly cards" thread and the Bankruptcy forum, plus all the posts that you will see here on General Credit and Credit Cards boards.

Do you have any specific goals that you are working on? You would be surprised at the things that can be done while still in bankruptcy that will have you ready to go once it is discharged. As sunrise said, you can be doing a lot of work on your credit status while still in bankruptcy! Good luck.

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Hi, sunrise: please do not advise the disputing of legitimate history. The purpose of these forums is to help people find ethical and legitimate means of helping their credit, including cleaning inaccurate information off of their credit reports. Please review the terms and conditions posted at the top of the forums. Thanks for your help --we value your contributions!

[sunrise]

Sorry, Hauling....I wasn't advising hotelexec to dispute NOW.  The BK is valid until Jan. 2014, as i told this person,...I simply stated that in LATE(maybe I should have stated Dec.?) 2013 to get the dispute out to have it removed by Jan. If it updates before Jan, this is a bonus for this person!   I read this advice in these forums.  I also read where people have had success having in it removed immediately before the drop-off date. 

 I have a Ch. 7 BK and have not, nor will I, dispute it...it is valid, I did it, I own it....and I would not advise anyone to do dispute theirs either.  You can bet though, that come 02/2013 I will be sending a dispute on mine so it can be removed the month it expires (is due to drop off..03/2013)  Why wait until the month it expires to send the dispute?  Then by the time it comes off it is actually one month after when it should have been removed.  MHO 

 From what I have read around here....creditors aren't exactly in any hurry to remove baddies when they are supposed to, there is nothing wrong with reminding them...that the time is up and they need to remove the baddie the month it should be dropped!  Again, just MHO

Sorry if I stepped on any toes! 

[sunrise]

I did state that "maybe it will drop off a couple of months early"   munch,munch,munch....I'm eating those words now...not very tasty!!  Sorry for the baddie 

[haulingthescoreup]

I understand --I know you've had your hands full with your own BK hassle. Glad to see that SmartCookie found your thread --her advice is hard to beat on things like this!

Hope the New Year brings you good luck, and maybe a well-deserved smackdown for your loser attorney!