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New Member
Posts: 4
Registered: ‎10-10-2007
0

Questions from a curious wife about Chapter 7 Bankruptcy!

Thanks for opening this post. I am new to the board, and curious about my husbands Chapter 7 Bankruptcy that was filed on 1/7/2003, and discharged shortly after. I have disputed several items on his credit report about 6 months ago cause they were supposed to be in the bankruptcy but weren't. I had a total of 9 negative items deleted(including a vehicle repossession that was around $8,000 delinquent). My first question is ... Is there any way to actually have a Chapter 7 Bankruptcy removed from a credit report legally, even before the 7 to 10 year mark? My second question is ... How much does your credit score go up if you get removed? and my 3rd question is ... Does it go up more if you just let it drop off at the 7 to 10 year mark or does it go up more if you can have it removed? Thanks in advance. A curious wife who has never dealt with BK before!
Equifax- March 08 --- 436 April 08 -- 575 (that's right my score jumped 139 pts in less than a month) June 08- 621

Experian- March 08 --- 491 April 08 -- 519 June 08-- 531(only an increase of 28, but its better than nothing)

Transunion June 08-- 567
Regular Contributor
Posts: 125
Registered: ‎04-17-2007
0

Re: Questions from a curious wife about Chapter 7 Bankruptcy!

The is NO way you can legally or illegalyl for that matter, have a BK ermoved before it's supposed to....
FICO's 03/03/08 EQ 597, EX 581, TU 606
FICO's 04/30/08-EQ 632, EX 620, TU 618
FICO's 06/03/08 EQ 607, EX 591, TU 599
Valued Member
Posts: 31
Registered: ‎04-20-2007
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Re: Questions from a curious wife about Chapter 7 Bankruptcy!

ch7 stays on 10 years, but it hurts your score less after 7... try to rebuild sooner rather than later as I did... he can get cc to help rebuild, look at bk friendly cards, and don't look at af cards so he can keep his history
Valued Member
Posts: 41
Registered: ‎11-07-2007
0

Re: Questions from a curious wife about Chapter 7 Bankruptcy!

It's on there to stay until the time (10 yrs). I too filed Ch. 7 in 2004 and many of the creditors who were included and have derogs on my credit report are showing to drop off/be removed before the 10 year period.  So as time goes on, the credit score does improve, even with the bk if he keeps his credit low and pays on-time every single time!  I am just now trying to clean up a few medical collections from a surgery and have a fico of 620, with that bankruptcy.  Time and good payment history will be on his side.
New Member
Posts: 4
Registered: ‎10-10-2007
0

Re: Questions from a curious wife about Chapter 7 Bankruptcy!

Well thank you for the information ... I greatly appreciate it!
Equifax- March 08 --- 436 April 08 -- 575 (that's right my score jumped 139 pts in less than a month) June 08- 621

Experian- March 08 --- 491 April 08 -- 519 June 08-- 531(only an increase of 28, but its better than nothing)

Transunion June 08-- 567
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