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Credit accounts listing on CR?

castor4072
Regular Contributor

Credit accounts listing on CR?

Hello all....I'm meeting with my attorney tomorrow,  but quick question for you experienced folks. After you BK is discharged and when the dust settles, is part of the BK process is to REMOVE all credit card accounts off of your credit reports, hence "fresh start"? 

 

Thanks in advance,

Cas...

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pizza1
Community Leader
Super Contributor

Re: Credit accounts listing on CR?


@castor4072 wrote:

Hello all....I'm meeting with my attorney tomorrow,  but quick question for you experienced folks. After you BK is discharged and when the dust settles, is part of the BK process is to REMOVE all credit card accounts off of your credit reports, hence "fresh start"? 

 

Thanks in advance,

Cas...


Nope. Those accounts, if late or CO before filing will stay on your reports and follow the DOFD to fall off. They will be reporting correctly since you did default on them prior to filing. The only change it will say on the account on your reports will be $0 bal/IIB. 

 

For example, if you defaulted on the card 3 months prior to filing, then that tradeline line will follow the DOFD to drop off, which is 7 yrs. Sorry, you dont just get a clean slate every where...your debts yes, the reports no. The BK itself will stay in the PR section on all three reports for 10 yrs from the date of filing as well for a BK7. 


My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013...I'm in the home stretch now!
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