Question on Credit accounts after BK

Anonymous · ‎01-25-2010

I know that accounts stay on credit report for 7 years after bankruptcy. If I understand this, is this 7 year from date of FIRST reported late payment? Not date BK was done. I filed in Jun 04 and some of the accounts have no date of first deliquency, I know that I was late on many of them way before BK was filed and there is no history on credit report. How can I find out when they first became late if I cant find any records......

Thanks

CreditBob · ‎01-26-2010

I also went through a bankruptcy filing. The 7 year clock starts from the filing date of the bankruptcy and this is also the last date of activity. So the accounts that are included in the bankruptcy will be deleted from your credit profile June 2011. This means you have another 1 year & 4 months to go when Jan turns into Feb. in the next few days. Do not worry about any dates before the bankruptcy as far as any lattes are concerned.

I will tell you this. Make sure that you hold on to your entire bankruptcy packet because some creditors have been known to try and pull a fast one on the person filing bankruptcy by attempting to report the account again. Make sure you do the credit monitoring. Equifax has a great program and just go to their website if you have not yet done so.

Also make sure that you have reestablished new credit because now the rules have changed and applying for credit is stricter.

Anonymous · ‎03-04-2010

@Anonymous wrote:

I filed in Jun 04 and some of the accounts have no date of first delinquency, I know that I was late on many of them way before BK was filed and there is no history on credit report. How can I find out when they first became late if I cant find any records......

DOFD doesn't apply to lates. DOFD is only relevant for CO/COLL.