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Valued Member
Posts: 38
Registered: ‎08-11-2007
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Will Chapter 13 REALLY fall off of my CR in 7 years???

Okay...not sure I'm posting my question in the right forum.  I am a complete newbie.  The question I have is for anyone out there who has actually filed a chapter 13 and had it fall off of their credit report.  I have read that a chapter 13 should fall off in 7 years.  We filed ours May 1st. 2001 and completed it May 1st. 2004.  Will this actually fall off May of 2008, and if so...how much can I expect for this to effect my Fico score.  Thanks for any help.
 
Moderator Emeritus
Posts: 7,326
Registered: ‎06-18-2007
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Re: Will Chapter 13 REALLY fall off of my CR in 7 years???

[ Edited ]
yes   Im not sure how it will effect your scores now....I think the effect gets less each year & now might not mean much..


Message Edited by HappyDays on 08-11-2007 07:02 PM

Message Edited by HappyDays on 08-11-2007 07:05 PM
Valued Member
Posts: 38
Registered: ‎08-11-2007
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Re: Will Chapter 13 REALLY fall off of my CR in 7 years???

Thanks Happy Days...Does it happen instantanously, or will I need to do anything?  How much will my credit score increase?
Valued Member
Posts: 38
Registered: ‎08-11-2007
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Re: Will Chapter 13 REALLY fall off of my CR in 7 years???

Okay...I guess I responded to soon.  Thanks for your help!
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Posts: 7,326
Registered: ‎06-18-2007
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Re: Will Chapter 13 REALLY fall off of my CR in 7 years???

[ Edited ]


devans66 wrote:
Thanks Happy Days...Does it happen instantanously, or will I need to do anything?  How much will my credit score increase?


CRA should drop it automatically
 
you are more then welcome


Message Edited by HappyDays on 08-11-2007 07:06 PM
Valued Member
Posts: 38
Registered: ‎08-11-2007
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Re: Will Chapter 13 REALLY fall off of my CR in 7 years???

Thanks again...oh to be finally free of this BK.  Also...do the accounts that were conneted with said BK automatically fall away as well?
Moderator Emeritus
Posts: 7,326
Registered: ‎06-18-2007
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Re: Will Chapter 13 REALLY fall off of my CR in 7 years???

yes the should.  all baddies drop in 7-7.5 years.  except some bk  liens and judgments
Frequent Contributor
Posts: 473
Registered: ‎03-06-2007
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Re: Will Chapter 13 REALLY fall off of my CR in 7 years???

As long as the CRAs are reporting your bankruptcy as discharged it should fall off 7 years from the date you filed it.  I saw a 60-80 pt increase once mine fell off
Valued Member
Posts: 38
Registered: ‎08-11-2007
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Re: Will Chapter 13 REALLY fall off of my CR in 7 years???

Thanks...that's good news for sure.  Did your's fall off exactly 7 years from the month you filed, or did it take a few months?
Frequent Contributor
Posts: 473
Registered: ‎03-06-2007
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Re: Will Chapter 13 REALLY fall off of my CR in 7 years???



devans66 wrote:
Thanks...that's good news for sure.  Did your's fall off exactly 7 years from the month you filed, or did it take a few months?


Actually it fell off a month earlier for EX & EQ.  It was TU I had to fight with because they didn't have it as discharged even though the date it was was on my report

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