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BK13 Voluntary Dismissal - remove from credit reports?

mcales
New Member

BK13 Voluntary Dismissal - remove from credit reports?

Hi all - I filed chapter 13 in March 2019 to stop a foreclosure process. It was voluntarily dismissed once I had done the loan modification agreement with PennyMac. It shows as "chapter 13 - dismissed" on TU & EX, doesn't show up on EQ. TU shows a "date paid" but I never paid anything other than the filing fee. Any recommendations to try and dispute this off of my reports?

Message 1 of 5
4 REPLIES 4
FireMedic1
Community Leader
Super Contributor

Re: BK13 Voluntary Dismissal - remove from credit reports?

I might be wrong. But once you file and get dismissed on your own or court ordered dismissal. Its worse than discharged. And it stays on your report longer than paid and DC'ed. Try reading this thread and see if it applies to you. Glad you got the house in order. But the way you went around to do it. It may have cost you. Read post #2

https://ficoforums.myfico.com/t5/Bankruptcy/DISCHARGED-VS-DISMISSED/td-p/15668 

We have a lawyer that pops in here. Might have more insight on this.

 




Homeowner since Sept 2020. Sharing my experiences after BK from learning here. Rebuild to recovery from the @ 540's.
Message 2 of 5
jmw1
Frequent Contributor

Re: BK13 Voluntary Dismissal - remove from credit reports?


@mcales wrote:

Hi all - I filed chapter 13 in March 2019 to stop a foreclosure process. It was voluntarily dismissed once I had done the loan modification agreement with PennyMac. It shows as "chapter 13 - dismissed" on TU & EX, doesn't show up on EQ. TU shows a "date paid" but I never paid anything other than the filing fee. Any recommendations to try and dispute this off of my reports?


Why would you get a preferential treatment for a failed 13?  It's worse than a discharged 13, which is a successful 13.  It's a 7 year wait from filing either way.

Message 3 of 5
krielly
Established Contributor

Re: BK13 Voluntary Dismissal - remove from credit reports?

Actually a dismissed Chapter 13 can remain for up to 10 years.

A discharged 13 will be removed in 7 years


You can't have your cake and eat it too. But you can dip your finger in the bowl and lick the icing!
Message 4 of 5
Loquat
Moderator Emeritus

Re: BK13 Voluntary Dismissal - remove from credit reports?

Unfortunately you're probably going to be stuck with this blemish in the same manner you would have if you had continued with the BK13.
Message 5 of 5
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