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New Visitor
WatchDoc
Posts: 2
Registered: ‎11-26-2012
0

How do I get Chp 7 BK off credit report after 10 years?

Hi Guys,

 

My magic 10 year anniversary for discharge is coming up in December.  Do I have to DO anything to get the BK off my report? Does it automatically get removed on the anniversary date?

If I have to do anything, what do I do?

How long will it be before my score changes? 30 days?

Once the BK is off my record, could I fill out an application for, say Chase and say, "no bankruptcies"?

 

I sure appreciate anyone being able to help with these questions, even if you just point me at links.  I have been searching the boards for a while and I just don't see any answers to these quetions.

 

Many Thanks!

Established Contributor
aussiesareforever
Posts: 740
Registered: ‎10-04-2010
0

Re: How do I get Chp 7 BK off credit report after 10 years?


WatchDoc wrote:

Hi Guys,

 

My magic 10 year anniversary for discharge is coming up in December.  Do I have to DO anything to get the BK off my report? Does it automatically get removed on the anniversary date?

If I have to do anything, what do I do?

How long will it be before my score changes? 30 days?

Once the BK is off my record, could I fill out an application for, say Chase and say, "no bankruptcies"?

 

I sure appreciate anyone being able to help with these questions, even if you just point me at links.  I have been searching the boards for a while and I just don't see any answers to these quetions.

 

Many Thanks!


Congratulations on reaching the magic 10 years. I cannot wait.

 

THe BK should come off automatically. TU tends to be the slowest at updating. Give them until the end of January and file a dispute if it hasn't updated. Techincally the BK should fall of 10 years from the day of FILING, not discharge. You likely filed before December so look at your reports, it might already have dropped off. Some people actually reports that the BK came off a few months early.

 

IF your score is going to change, you should see it happen fairly immediately. Pretty much as soon as the BK drops. Depending on how you've managed your credit, you may see a big jump or little to no jump at all

 

For your applications, if you are asked "Do you have a BK reporting on your credit report"- you can definitely answer no. However for questions that ask "Have you ever filed BK"- you should probaly answer yes.

 

Lots of people here hvae gotten Chase and Amex after the BK dropped off their reports so I think you should be good to go.

 

Congratulations. I can't wait although I have FIVE more years to go!!!!

BK in 2008, after making very stupid financial decisions.

Barclay's Apple Financing Card ($6400) --- Capital One Quicksilver ($10,000)---GEMB CareCredit ($5700) --- AUFCU ($10000)--- Walmart ($5000)

FICO Scores: TU 735 EQ 709 EX 740 (Feb 2013, all pulled by lender)

New Contributor
tisch0791
Posts: 57
Registered: ‎03-31-2012
0

Re: How do I get Chp 7 BK off credit report after 10 years?

Hi,

 

I'm at the magic 10 year mark too!  Yay!  However, I read somewhere that when your BK falls off, your credit is scored in a different category and it's possible that your score can DROP once it's removed?  I always thought it would make your score jump.  Anyone else ever heard of that?

 

Also, if my filing date was Nov 2002, does that mean as of December 1 2012 it will be removed?  I think it is already gone from TU, but I know for sure it's still on my EQ.

New Visitor
WatchDoc
Posts: 2
Registered: ‎11-26-2012
0

Re: How do I get Chp 7 BK off credit report after 10 years?

Hi Aussie,

 

Thanks for taking the time to answer, I really appreciate it.  My score is not that good yet; I went through a divorce recently that brought new meaning to the words "rape and pillage".

 

As time passes though, I start to get little bits of credit here and there, from GE, from Cap 1, etc.  I'm only at about EQ 630 right now, but my goal is 700+ and then I'll re-assess.  I think it's doable, I have just gotten 2 more uncollected debts (both from now BK protected ex-wife) off the report, and when the BK falls off I should be in better shape.  I might actually spend the money to get my other 2 reports then.

 

Thanks again!

 

Best Regards,


WatchDoc

For your applications, if you are asked "Do you have a BK reporting on your credit report"- you can definitely answer no. However for questions that ask "Have you ever filed BK"- you should probably answer yes.

 

Lots of people here have gotten Chase and Amex after the BK dropped off their reports so I think you should be good to go.

 

Congratulations. I can't wait although I have FIVE more years to go!!!!


 

Established Contributor
aussiesareforever
Posts: 740
Registered: ‎10-04-2010
0

Re: How do I get Chp 7 BK off credit report after 10 years?


tisch0791 wrote:

Hi,

 

I'm at the magic 10 year mark too!  Yay!  However, I read somewhere that when your BK falls off, your credit is scored in a different category and it's possible that your score can DROP once it's removed?  I always thought it would make your score jump.  Anyone else ever heard of that?

 

Also, if my filing date was Nov 2002, does that mean as of December 1 2012 it will be removed?  I think it is already gone from TU, but I know for sure it's still on my EQ.


That is correct. When your BK drops, you are "rebucketed" into a different group of individuals without BKs. Depending  on how your credit looks, your score may go up or stay the same. I guess it could theoretically go down but I haven't heard anybody experience that yet. Most people just say they either get a big jump or a modest increase.

 

Your BK should be gone as of Deember 1st. Equifax also tends to slack sometimes but they should also have it gone by December 1st. Just dispute it if they don't and come back and tell us what kind of score increase you see. I'm jealous but I will wait for that day when I'm finally rid of the BK :smileyhappy:

 

BK in 2008, after making very stupid financial decisions.

Barclay's Apple Financing Card ($6400) --- Capital One Quicksilver ($10,000)---GEMB CareCredit ($5700) --- AUFCU ($10000)--- Walmart ($5000)

FICO Scores: TU 735 EQ 709 EX 740 (Feb 2013, all pulled by lender)

New Contributor
tisch0791
Posts: 57
Registered: ‎03-31-2012
0

Re: How do I get Chp 7 BK off credit report after 10 years?

Thanks for the info.  I'm at 665 EQ right now and the only things on my report are 5 cc's (4 mine, 1 is an AU).  They are at high util.  All but one haven't been used in over a year but it's been a challenge to pay them off.  The one I am an AU on is actually a closed account and I'm going to pull myself off the account.  Total revolving debt is $8215 but once I get the AU removed my report will show only $5780.  I also currently have only one car loan that is in good shape.  So I'm hoping there will be a jump!  I'll update once I see a score change.


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