Deleted bankruptcy

[Anonymous]

I had a ch.13 bankrupcy that the court dismissed in 5/2001.  I thought it would come off my reports this year but 2 of them removed the bankrupcy but equifax never did.  I was told as it was dismissed they could keep it for up to 10 years.  It did not seem fair to me though.  I ended up paying off almost everything in my bankrupcy because it was dismissed and so I have to wait 10 years to have it gone but someone can go ch.13 dismissed bankrupcy and get it off there report.  Granted you still have to pay your debts back but so did I.  I just wish I could understand why the do this?  You would think 7 years would be long enough to keep it on your credit report especially once it is dismissed because you have to end up paying it all back.  Any informatio that would make me understand this better would be great.  Thanks.

[teddy67]

My bankruptcy was in 2001.  Last year each of the creditors began dropping off of my report, and each time one did, my FICO score dropped and kept getting lower each time another one of my creditors dropped off.  I was shocked and devestated because of this.  I have 2 credit cards that I have been using for the last 4 years and have always paid the entire balance every month, never once was I late.  Watching my score go up every couple of months and then drop drastically again the next month finally made me call MyFico.  I was told that each time one of the creditors from my bankruptcy had dropped off of my credit report, it caused a big decrease in my fico score, and that it would continue to do so until all of the creditors dropped off my report.  She was entirely correct, because when they all finally dropped off of my credit report, my fico score went up a whopping 100 points and is presently 744.  I still have a couple of years to go, before my credit report is totally clear of any mention of a bankruptcy.

[Anonymous]

A chapter 13 can be on your credit report for 10 years if it was dismissed.  We filed for a chapter 13 in 2001 and filed and went to court but one two months later they dismissed it and said we could not do this because I left something out of a electric bill which was about 13.00 off.  So we decided to pay off all our creditors but unfortunately EQ is the only credit agency that still is reporting the BK, the other 2 removed it last year.  So that is the way it goes. Maybe you will be luckier then I was.

[Anonymous]

I am new to this forum and new to the BK game as I just got my discharge on Dec. 17, 2008.  However, I would like to know did you have the student loans prior to your filing or did you get them once your BK was discharged.  I filed a CH7 and included everything I could except my leased vehicle, a line of credit I have with my credit union, my Walmart card which did not have a balance, a property I purchased for $1.00 that needs a little rehab, and 2 student loans that I already had when I filed.  I figure if I continue to pay my lease on time, along with my student loans, this should re-establish my credit to a fair/good standing in a moderate amount of time. Do you agree and/or do you have any advise for me.  Oh, I also opened up another bank account just in case my CU were to close my account of which they did not; thank God.  I have 2 Visa Debit cards with each CU/Bank account.

[Anonymous]

We were going to file a chapter 13 which is different then a chapter 7.  In chapter 13 we were supposed to pay the court 300.00 everymonth for approx. 5 years or earlier if we could pay it off sooner, but unfortunately I gave the wrong amount on my electric bill which was a difference of 15.00 and they dismissed our pettition 3 months after we went to court.  So because of that we needed to go back to square one and pay off the dets which we did but we still have a bankrupcy listed and we got none of the advantages of it.  Oh well what can you do.  I have 2 more years before equifax will remove it so I really don't care as it is not really affecting me that much now.  I got the parent plus loan for my son in June of 2008 and I feel fortunate as if it was now I know I would of had a problme.  I have a very wonderful friend who endorsed the loan for me because that is the only way I could of gotten it because of something else not the bankruptcy.  I got the student loans and then was able to consolidate it with the Department of Education and now my very good friend is off the loan once they paid Sallie Mae what was owed them.  I think the bankrupcy has to be at least 3years before you are able to get a student loan.  All my credit cards I had to take annual fees with but last year I was able to get a credit card without a fee and with a decent interest rate.  The most important thing that I found with your credit score is to always pay your credit accounts on time and never be late.  I have been able to pay all my credit cards on time every month and send them more then the minimums so that has helped my credit score.  Also the most important thing also is your debt to credit utilization.  The installment loans for the student loan and my car I don't think has really affected me, the most important thing that has affected me is the debt utilization to the credit limits.  So if you maintain your credit accounts that you have now it will help you.  It is not a quick fix but then again it takes time to get into debt and it takes time to get out of debt.  One thing we should all learn is that if we don't really need something we should not buy it and I know my goal for 2009 is to have all my credit cards with a 0 balance.  That is what I have planned on and hopefully by June 2009 I should be done with paying all my credit cards off and then I am going to start on my car loan and then I am looking at a 5 year plan for the student loan.  It is a large student loan qnd I will have a party for myself when it is all done.  I figure if I keep the loan for the 25 years I will be paying 60,000 in interest charges so if I wipe it out in the 5 years I will have paid only 16,000 in interest.  So that is my plan.  I hope some of the mistakes I made help you to not make the same mistakes.  Time is the best healer but you need to be responsible for your debt and I think that is the thing that turns it all around for you.  You will get there it is just a tough battle in these economic times but it can be done.  The other thing is that I was eligible to get credit cards without being denied about one year after the bankrupcy but it was only one card and a small limit but I have worked it up and have had it since 2002 and never missed a payment and never went over the limit.   I hope this information helps you.  Take care. 

[myfairlady]

Would you please tell me how you were able to get a BK off your cr in only 4 years?

[Anonymous]

My bankrupcy was taken off my credit report from Trans Union and Experian about 2 years ago so that would be the end of 2006.  It had been listed on my credit report since 2001 so that would be 5 years it was listed in these 2 bureaus.    Equifax however has not deleted it and I am not expecting them to do it until around 2011.  As I said before I filed chapter 13 and it was dismissed by the trustee so therefore you have to keep it for 10 years  instead of 7 years and that is what happened to me. If you want to send me a private message I will be glad to share with you about your question that you asked.  

[fused]

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LYNNY47 wrote:
My bankrupcy was taken off my credit report from Trans Union and Experian about 2 years ago so that would be the end of 2006.  It had been listed on my credit report since 2001 so that would be 5 years it was listed in these 2 bureaus.    Equifax however has not deleted it and I am not expecting them to do it until around 2011.  As I said before I filed chapter 13 and it was dismissed by the trustee so therefore you have to keep it for 10 years  instead of 7 years and that is what happened to me. If you want to send me a private message I will be glad to share with you about your question that you asked.  

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Why don't you share it with all of us?

Message Edited by fused on 01-14-2009 10:16 AM

[Anonymous]

I had to get some outside help to get my Bankrupcy deleted but it was after it was already on my report for 6 years. In 2006 2 of the CA's removed the bankrupcy but one did not.  When I contacted Equifax I was told that a dismissed chapter 13 has to stay on your report for 10 years.  What I don't understand about it is that I paid all of these off and none of the accounts I used to have were on my credit report.  I could not understand why this BK would have to stay for 10 years as my debt was already all paid back but I guess it is the difference between dismissed and discharged.  I always thought having it dismissed 2 months after it was filed and paying it all off was better for me but I guess it really does not matter.  I didn't think that after 8 years that it would affect my credit but I do notice that it is the first thing that is on My Fico Report so I would assume it is still affecting my credit. After joining the Fico Forum I have learned a lot and it has really helpted.  I think I am kind of lucky that at least it is off 2 of the CAs so I don't want to rock the boat.  I guess I just have to let this stay on until 2011 which is 2 years to go.  Don't know if there is anything else I can do or try to do about it.  If you have any suggestions I would be glad to hear about it. 

[Anonymous]

Can you actually get a BK removed from your PR and CH before the 7-10 year mark?  I mean completely removed?