Thank you for info-- always wanted to know this.  What is the date in which the time clock begins?  Date of filing BK or discharge date?

Hi sabrel,

Welcome!  Glad you're here - and posting! - on the forums!

Clock starts clicking on filing date to determine when it will age off your CR.

Many thanks for the quick response!  I'm feeling better with that answer. 

what about when lenders look at the date of your bankruptcy for loans purposes?  Filing or discharge.  I understand that it is filing for the 10 years counting to drop.

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Trying_to_climb,

IMO and IME, it's universally the filing date that's looked at. 

It definitely is the filing date when it comes to the BK aging off the CR's.

Hello Everyone! 2012 I hope is going to be a good year for me! I filed for Ch 7 BK in October of 2005 just before the new BK Laws so it's going to be that "magical" 7 year anniversary date this fall! Yay!!

However, I am now wondering how "magical" this 7 year date actually is ... I know the question has been posed here but I'm still a little confused on the answers so wondering if I can get absolute confirmation. I am aware a Ch 7 BK stays on record for 10 years ... way too long IMO. Anyways, I know a negative (derogatory description) stays on for only 7 years. So there were 8 negatives accounts that occurred due to the BK. So will the negatives on the accounts come off at least this year (7 years) while the BK stays on the "Public Records" for 3 more or do the 8 negative accounts stay on too?

Thanks in advance.

UPDATE: Looks like this was answered very directly in another thread ... http://ficoforums.myfico.com/t5/Bankruptcy/Bankruptcy-Accounts/td-p/1139223   ... based on that, this October is going to be a good one!!!

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Current Score: EQUIFAX 719
Current Score: EXPERIAN 720-729
Current Score: TRANS UNION 722
BK in 10/2005

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tamgelikah wrote:

Hello Everyone! 2012 I hope is going to be a good year for me! I filed for Ch 7 BK in October of 2005 just before the new BK Laws so it's going to be that "magical" 7 year anniversary date this fall! Yay!!

 

However, I am now wondering how "magical" this 7 year date actually is ... I know the question has been posed here but I'm still a little confused on the answers so wondering if I can get absolute confirmation. I am aware a Ch 7 BK stays on record for 10 years ... way too long IMO. Anyways, I know a negative (derogatory description) stays on for only 7 years.  Right.   So there were 8 negatives accounts that occurred due to the BK. I'm assuming you mean Eight accounts that already existed that became negative due to being Included In Bankruptcy? Just wanted to clarify!   So will the negatives on the accounts come off at least this year (7 years) Yes - IIB and lates report for 7 years.  while the BK stays on the "Public Records" for 3 more or do the 8 negative accounts stay on too?  Yes - accounts can report for about ten years.  That means when the IIB ages off after 7 years, and the account remains for ten years, you have three years of the account reporting as a good account.  BOnus!!!

 

Thanks in advance.

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Congrats!  Yep - it looks like this will be a very good year for you!

AWESOME!! I will be sure to update everyone on the process, timing and I know the BIG question of how much of a bump I'd get when that happens.

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Current Score: EQUIFAX 719
Current Score: EXPERIAN 720-729
Current Score: TRANS UNION 722
BK in 10/2005

"But the rule that you can’t charge within 90 days of filing isn’t written in stone there are 12 factors that the judge will use to determine if it is fraudulent."

What are the 12 factors??

I don't know what those 12 factors are.  

If the creditor/creditors in the bankruptcy felt you didn't keep up your end of the bargain then maybe they may play a factor in how you obtain future credit.

As I see it, one such creditor is doing this to me as we speak. GM BANK for instance, has many entities in the credit world, or has taken over many of the faltering companies. I say this because every retailer has had or is affliated with them.  Just the other day Pay Pal offered to give me a chance to have a credit card. But GM rejected it.  I'm not going to apply for anything else because of this.

Other things, such as how you went bankrupted and why?   In my case - why did I go on a short vacation before I decided to go bankrupted?  It looked like I planned it all and left them holding the bag? 

When really that wasn't the case...I had a death in the family - Yet I struggled to work with the BOA bank ..nothing worked. It was my last resort.

I am however, going to defend myself and hold my head up and not between my legs against people who want to make life hard on me.  This is causing me not to get employment and also to find a place to live.