Laws in State of Georgia

[Anonymous]

Anybody know how many years a bankruptcy stays on your credit record in Georgia?  I was told seven years, which means I can get this albatross off my back in March or April of 2011;  but if it's ten years, I'm going to go home and stick my head in the oven.  AAUGH!!! 

[MarineVietVet]

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@Anonymous wrote:

Anybody know how many years a bankruptcy stays on your credit record in Georgia?  I was told seven years, which means I can get this albatross off my back in March or April of 2011;  but if it's ten years, I'm going to go home and stick my head in the oven.  AAUGH!!! 

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Was it Chapter 7 or 13 BK?

Chapter 7 remains for 10 years from the filing date. Chapter 13 remains for 7 years from the filing date. Accounts included in bankruptcy will remain 7 years from the date they were reported as included in the bankruptcy.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work

[MarineVietVet]

Hello? kayeraven?

You don't have your head in that oven do you?  

[scrubs]

not t rue. accounts that was included in bk , idoes not reset the 7 year clock.  i started my bk in april 2009 and i believe i had about 14 bad accounts that was about 5 to 6 yrs old and now as of sept 2010 i have three bad accounts with ex.  two with eq and  one with tu.  by the summer of 2011 two of my old bad accounts that was left with my bk will be off my cr.  all of theses account 14 of them was included in my bk.

[MarineVietVet]

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@scrubs wrote:

not t rue. accounts that was included in bk , idoes not reset the 7 year clock.  i started my bk in april 2009 and i believe i had about 14 bad accounts that was about 5 to 6 yrs old and now as of sept 2010 i have three bad accounts with ex.  two with eq and  one with tu.  by the summer of 2011 two of my old bad accounts that was left with my bk will be off my cr.  all of theses account 14 of them was included in my bk.

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What is not true? I'm confused by what you wrote.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work

[chasmith]

A Chapter 7 Bankruptcy public record stays on for 10 years.

The TLs must follow the 7.5 years since DOFD rule and the DOFD isn't reset by filing BK.  I had Amex report a 15 year old CO as IIB (they have a long memory and apparently watch BK filings very closely).  It was immediately removed when disputed to the CRAs.

[scrubs]

not true about the accounts that was included in bk, start the 7 years again.  when i filed for bk in april 2009 i had about  14 bad accounts, most of my bad accounts was about 5 to 6 yrs old. now as of oct 2010 i have about 3 bad accounts out of 14.  summer of 2011 2 of them will be off my cr.

if you said,  if true theses bad accounts will stay on my cr for about 12 to 14 yrs. not 7 yrs. ch 7 bk will stay on your cr for 10 yrs from the date that you filed.

[Anonymous]

No, but not for want of trying.  Went home and realized I didn't HAVE an oven!  (Not yet.  Hope springs eternal in the human breast.  I'm going to remodel this house if it kills me.)  I hope I'm understanding everyone correctly - - the individual accounts with all the "baddies" in them, i.e. late payments and the like, will begin to degrade and fall off after seven years.  The BK record itself will be there for ten.

What can I say?  No one to blame but myself.

[chasmith]

To be clear, 7 to 7.5 years after the date of first delinquency, not the date you filed or yyour date of discharge.  The Bankruptcy does NOT extend the allowable reporting period for those tradelines.