topic Re: Seven years after Chapter 7 in Bankruptcy

Seven years after Chapter 7

Anonymous — Sat, 26 Jul 2008 02:07:05 GMT

It has been seven years since my chapter seven bankruptcy has been discharged. Can I now write to the creditors who still show a negative mark on my credit score and ask that it be changed? I have also read that a person must wait ten years. Has anyone been successful in getting these negative marks removed from their credit report? What exactly did you do to get your report cleaned up?

Thanks, V.

Re: Seven years after Chapter 7

granny031350 — Sat, 26 Jul 2008 21:30:57 GMT

the accounts that were IIB should come off after 7 years. The BK itself (public record) will stay on there for 10

Re: Seven years after Chapter 7

Anonymous — Wed, 20 Aug 2008 04:13:00 GMT

I was talking to a WAMU Bank rep today and was told that if you take out a big loan $100K or more (a mortgage I suppose) after declaring BK, then the BK itself (public record) remains on your report until you payoff that loan or mortgage (meaning it doesn't automatically come off after 10 years). Any truth to that?

Message Edited by superdesi on 08-20-2008 12:13 AM

Re: Seven years after Chapter 7

Anonymous — Wed, 20 Aug 2008 22:20:42 GMT

That is absolutely NOT true. That rep doesn't know what they are talking about.

Per Federal Law, the BK public record CANNOT remain on your credit report more than 10 years from date the BK was filed. Period. End of story.

Re: Seven years after Chapter 7

Anonymous — Thu, 21 Aug 2008 01:41:01 GMT

BKs stay for 10 years from date of adjudication. BK7s tend to stay for 10 years and BK13s tend to stay for 7 years. Results vary.

Re: Seven years after Chapter 7

Anonymous — Thu, 21 Aug 2008 02:58:06 GMT

Thank you for clarifying that. Just goes to show that one has to do his/her own truth finding.

Re: Seven years after Chapter 7

Anonymous — Thu, 21 Aug 2008 11:24:26 GMT

Not sure why people continue to say a date other than filing date. Here it is again:

BK's fall off your credit report 10 years from DATE OF FILING. If you file July 2008, it comes off July 2018. Only exceptions are Chapter 13's, that can come off in 7 years. Nothing to do with any discharge or adjudication dates.

Re: Seven years after Chapter 7

Anonymous — Fri, 22 Aug 2008 00:41:10 GMT

Not sure why people continue to make claims they cannot support.

DOA with BK13 is date of filing. With BK7 it's discharge date.

http://www.ftc.gov/os/statutes/fcrajump.shtm

http://www.ftc.gov/os/statutes/fcradoc.pdf

§ 605. Requirements relating to information contained in consumer reports [15 U.S.C. §1681c]

(a) Information excluded from consumer reports. Except as authorized under subsection (b) of this section, no consumer reporting agency may make any consumer report containing any of the following items of information:

(1) Cases under title 11 [United States Code] or under the Bankruptcy Act that, from the date of entry of the order for relief or the date of adjudication, as the case may be, antedate the report by more than 10 years.

Message Edited by Noah_Bodie on 08-21-2008 05:41 PM

Re: Seven years after Chapter 7

Anonymous — Fri, 22 Aug 2008 02:27:53 GMT

"Date of entry of the order for relief" is the filing date of the BK. That's the bottom line.

10 years from this date the BK's need to fall off (7 for Chap 13's, EX and TU anyway).

Re: Seven years after Chapter 7

Anonymous — Tue, 30 Sep 2008 18:43:00 GMT

I have a question should the creditors that were included in the BK be falling off before the Chpt 7 is off then? How come it's been 7 years and some things are still on my report? Is it because they were included in the BK? How does that work?

Re: Seven years after Chapter 7

Anonymous — Tue, 21 Oct 2008 22:20:54 GMT

I filed in 12/99 and my CRAs report this will be coming off 11/09. That's the fact Jack

Re: Seven years after Chapter 7

Anonymous — Tue, 28 Oct 2008 12:14:03 GMT

If you have any items that are more than 7 years from date of first delinquency, dispute them. They should be removed, regardless of whether they were included in BK.

Re: Seven years after Chapter 7

Anonymous — Tue, 28 Oct 2008 23:12:22 GMT

I did a Ch7 discharge in 1999. Sometime in 2002, I hired Bradley Ross Law to do credit repair. On March 10, 2004 Equifax deleted my bankruptcy from my credit file. BRL continued to contact Trans Union and Experion for another year in an attempt to achieve the same result there, with no luck. I have no idea why it worked with one agency and not the other two.

Re: Seven years after Chapter 7

Anonymous — Tue, 28 Oct 2008 23:55:51 GMT

So you were able to get your Ch. 7 deleted after getting a law firm to do a credit repair?

Re: Seven years after Chapter 7

Anonymous — Wed, 29 Oct 2008 00:54:50 GMT

As far as I know, this lawyer mainly does credit repair. I found them through a Credit After Bankruptcy seminar put on by a guy named Stephen Snyder. The last number I have for Bradley Ross Law was as of 2/24/2005 and its 701-355-0123. They are in South Dakota. They just did the standard barrage of letters and timed responses that anyone could do for themselves. I wanted to pay someone who had the system down. At that time the monthly fee was around $50. They got everything removed from all my credit reports except for the BK on the two I mentioned earlier. My FICOs are now in the mid 700s and the BKs are still on there until 10/2009.

Re: Seven years after Chapter 7

Anonymous — Wed, 29 Oct 2008 01:49:19 GMT

Great. Thanks for the info.