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How long before bankruptcy ch 13 removed and how are creditors IIB supposed to report?

Established Member

How long before bankruptcy ch 13 removed and how are creditors IIB supposed to report?

I filed Chapter 13 bankruptcy back in June 2001.  I completed my payments and it was dismissed in June 2007.  I want to work on my credit score and have a few questions.  Any help is appreciated.
 
1. Is the banruptcy supposed to stay on my credit report for 7 or 10 years.  And is it 7 or 10 years from the date filed or the date discharged.  I've read both and don't know which one is correct.
 
2.  My mortgage payment was IIB.  How were my payments during that time supposed to be reported?  I've read that my payments during my bankruptcy is supposed to be reported as current.  However, during that entire time it is reporting as 90 & 120 days late. 
 
Thanks in advance for your help.
 
 
Message 1 of 10
9 REPLIES
Valued Member

Re: How long before bankruptcy ch 13 removed and how are creditors IIB supposed to report?

Welcome, first of all, was your bk dismissed or discharged?...I believe you meant discharged...(since you finished paying it off)..... Your bk should stay on your cr 10 years from the file date....
Message 2 of 10
Established Member

Re: How long before bankruptcy ch 13 removed and how are creditors IIB supposed to report?

Yes, I did mean discharged.  Thanks for your response.
Message 3 of 10
Valued Member

Re: How long before bankruptcy ch 13 removed and how are creditors IIB supposed to report?



roosevelt3 wrote:
I filed Chapter 13 bankruptcy back in June 2001.  I completed my payments and it was dismissed in June 2007.  I want to work on my credit score and have a few questions.  Any help is appreciated.
 
1. Is the banruptcy supposed to stay on my credit report for 7 or 10 years.  And is it 7 or 10 years from the date filed or the date discharged.  I've read both and don't know which one is correct.
 
2.  My mortgage payment was IIB.  How were my payments during that time supposed to be reported?  I've read that my payments during my bankruptcy is supposed to be reported as current.  However, during that entire time it is reporting as 90 & 120 days late. 
 
Thanks in advance for your help.
 
 


Chapter 13 stays on 7 years from filing if discharged.
Message 4 of 10
Established Contributor

Re: How long before bankruptcy ch 13 removed and how are creditors IIB supposed to report?

7 years for a ch 13 for EX and TU.  I hear that EQ doesn't care what chapter bk you file - they keep it on for 10 years.
Message 5 of 10
Established Member

Re: How long before bankruptcy ch 13 removed and how are creditors IIB supposed to report?

For ch13 7 years from the date of filing.  I see that your was discharged June 07, therefore, it should be coming off your CR reports (all 3) either May or June 08.  As far the IIB for your mortgage it should state current and paid as agreed.
 
You need to get copies of all 3 reports, go over each one for correct info, make sure it list 0 balance.  Once you get this done and have re-established credit your scores will go way up.
Message 6 of 10
New Visitor

Re: How long before bankruptcy ch 13 removed and how are creditors IIB supposed to report?

I have almost the exact same situation. Chapter 13, Petition filed: 11/1/2001 Date Discharged: 11/15/2006 I keep getting conflicting information on whether it is 7 years from date filed or discharged on when it is removed from credit report? Can you please post if it gets removed in the 7 years from date filed??? THANKS!!
Message 7 of 10
Member

Re: How long before bankruptcy ch 13 removed and how are creditors IIB supposed to report?

I sure will let you know.  I am waiting about 3 more months before I look out for it.  I can't wait to see. 
Message 8 of 10
Frequent Contributor

Re: How long before bankruptcy ch 13 removed and how are creditors IIB supposed to report?

My chapter 13 fell off all three reports 6 years 11 months from the date is was filed.  It's seven years from the date its filed and has to be discharged.  So keep your records saying it was discharged  as proof because I did have trouble with TU.  They told me they had no record of it being discharged yet there was a date on there for last activity which was the discharge date.
Message 9 of 10
New Visitor

Re: How long before bankruptcy ch 13 removed and how are creditors IIB supposed to report?

That is great news! I cannot wait, mine should be due to come off November 2008!
My current Equifax score is 646.
Did your scores increase when it came off?
Message 10 of 10