10-01-2012 10:09 AM
I had a Chapter 7 bankruptcy discharged in 2009. My credit score is still very low, due to the fact that the credit cards that were discharged in the bankruptcy are still listed on my report. They are the only negative items on my current credit report. How long are these discharged accounts reflected on my credit report, and is there any way I can get them removed?
10-01-2012 01:37 PM
First, the rules pertaining to negatives hold true. Each negative line must be removed by "seven years plus six months" from the date of first delinquency. Those IIB lines may say IIB, they can't be dated any later than discharge (some say filing), and can only reflect the status at the time of filing, so if something was current when you filed it must show no negative other than IIB.
Those negative lines will age until they fall of in, as I said, at most seven years and six months from DOFD. But some creditors will update monthly with a status date later than the BK, which makes them seem like current derogs. In a couple of cases I had to dispute with CRA then file a 623 letter but eventually got them all fixed.