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Is it possible for Cap 7 to fall off before 10 years? I was on a credit score site and it said to be removed after 8 years. Is that possible? I can't remember which site I was on when I saw it :/
Accounts will drop off 7 years from the DoFD
Some credit reporting agencies will remove a BK a few months early, but never years. As Scupra pointed out, perhaps you confused that with derogatory accounts included in BK, which fall off after 7 years.
Thank you for the replies, yes the account drop off dates must have been what I saw. Does that help your credit any when they drop off or does it not matter since the BK is still posted?
@Anonymous wrote:Thank you for the replies, yes the account drop off dates must have been what I saw. Does that help your credit any when they drop off or does it not matter since the BK is still posted?
It should, they're called "derogatory accounts" for a reason. I filed in 2010 and mine start falling off in a few months, I'll let you know.
I went and looked at my account that showed my Chap 7 stuff and our old home equity that was included in the BK said this below. How is it still updating in 2017, the others with this credit union are not. I did recently by a car and the dealer sent them an application that was denied could that be it? The mortgage does not show this though. Our Chap 7 was finished May 18, 2010, filed on Feb 5, 2010.
Account Details
Latest Status: Unknown
My chapter 7 was filed in May 2007 and it's still being reported by all 3 credit bureaus. I'm hoping that it's finally off in 3 more months.. which will make it 10 years.
Hi, just wanted to follow up on some of you here who mentioned your Ch7 would be falling in a few months.
Any updates? :-) Hope good news!!
A chapter 7 BK stays on your report for 10 years, not 7.