? Does the 7 yr rule apply to accounts listed in the BK?

[HindSight_20_20]

Or do they stay on for the full 10 years?

I'm wondering because I have two accounts that should be off now (they are like DOFD 1999, 2000), while these are my oldest accounts, I'd risk taking the FICO hit and getting them off if they are supposed to be gone rather than letting them sit here and show a derog and report +120 days late.

Thanks

[MarineVietVet]

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@HindSight_20_20 wrote:

Or do they stay on for the full 10 years?

I'm wondering because I have two accounts that should be off now (they are like DOFD 1999, 2000), while these are my oldest accounts, I'd risk taking the FICO hit and getting them off if they are supposed to be gone rather than letting them sit here and show a derog and report +120 days late.

Thanks

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Accounts included in bankruptcy will remain 7 years from the date they were reported as included in the bankruptcy.

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

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[Anonymous]

I've had some of my TL's IIB fall off for expiration on the 7 yr anniversary of DOFD

[Anonymous]

TU shows a date items will be removed. I've had one on my report  that said 6/2010. It was gone this morning. So far TU's date of removal seems to be pretty accurate as this is the 2nd one that has disappeared when they said it would. The ones that disappeared had DOFD's in 2003 and they were IIB. My BK was filed in 2005 and discharged in Jan. 2006. YMMV

[Anonymous]

The delinquencies from before the BK will report for 7 years, and then age off.  The accounts will continue to report for (hopefully the full) ten years.

That means that your previously negative account will report as a positive account for approximately 3 years (give or take) and continue to positively affect your AAofA during that time.  If you're really lucky, the accounts will report longer than the 10 years! 

Just make sure those derogatory lates age off properly (mine all have - just had my last two age off last month).  Now those accounts are helping my CR and my FICO score.

[MarineVietVet]

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@Anonymous wrote:

The delinquencies from before the BK will report for 7 years, and then age off.  The accounts will continue to report for (hopefully the full) ten years.

That means that your previously negative account will report as a positive account for approximately 3 years (give or take) and continue to positively affect your AAofA during that time.  If you're really lucky, the accounts will report longer than the 10 years! 

Just make sure those derogatory lates age off properly (mine all have - just had my last two age off last month).  Now those accounts are helping my CR and my FICO score.

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Good point!!!

[HindSight_20_20]

Thank you!!

I'll check my CCR's to see what's going on then with the derogs from 'before' the BK.

Great responses thank you all so much!