Moderator Emeritus
Posts: 4,470
Registered: ‎12-31-2008
Re: Bankruptcy FAQs

Hi firecraker,

Glad you're here.  This is a great place to learn how to rebuild credit.  First, your questions:



firecraker wrote:

I filed Chap. 7 bankruptcy in April 2004.  It was dismissed because I did not have enought assets to proceed in Nov. 2004.  How can I get the 3 bureaus to remove this from my credit report. 

Dismissed bankruptcies will continue to report on each CRB for ten years.   If you filed, it will report; either as dismissed or discharged. 


I have been denied credit based on the filing even though nothing was discharged!!! 

There are several companies that will offer you credit even with a BK on your report, but not all will.  Check out BK Friendly Credit Cards Listed.


 I subsequently re-mortgaged my home and paid off credit card debts at negotiated amounts.  These are listed as "0" balance but with a notation "charge Off". 

As long you you negotiated a payoff amount, your CR can list them as a charge off.  That means they had to charge off the part of the account that was not paid.


How can I clean up my credit report?

Spend some time on the "Rebuilding My Credit" forums.  If your BK was from '04, your scores can be in the healthy 700's. 

Hope that's somewhat helpful.  There's lots of folks on these forums that have been in your shoes, and lots of helpful info here. 

Just puttin' syrup on something, don't make it pancakes.