Seven years after Chapter 7

Anonymous · ‎07-25-2008

It has been seven years since my chapter seven bankruptcy has been discharged. Can I now write to the creditors who still show a negative mark on my credit score and ask that it be changed? I have also read that a person must wait ten years. Has anyone been successful in getting these negative marks removed from their credit report? What exactly did you do to get your report cleaned up?

Thanks, V.

granny031350 · ‎07-26-2008

the accounts that were IIB should come off after 7 years. The BK itself (public record) will stay on there for 10

superdesi · ‎08-19-2008

I was talking to a WAMU Bank rep today and was told that if you take out a big loan $100K or more (a mortgage I suppose) after declaring BK, then the BK itself (public record) remains on your report until you payoff that loan or mortgage (meaning it doesn't automatically come off after 10 years). Any truth to that?

Message Edited by superdesi on 08-20-2008 12:13 AM

_____________________________________
TU: 705 [10/20/10]
EX: ???
EQ: 705 [10/18/10]
CK: 700 [11/03/10]

Anonymous · ‎08-20-2008

That is absolutely NOT true. That rep doesn't know what they are talking about.

Per Federal Law, the BK public record CANNOT remain on your credit report more than 10 years from date the BK was filed. Period. End of story.

Anonymous · ‎08-20-2008

BKs stay for 10 years from date of adjudication. BK7s tend to stay for 10 years and BK13s tend to stay for 7 years. Results vary.

superdesi · ‎08-20-2008

Thank you for clarifying that. Just goes to show that one has to do his/her own truth finding.

_____________________________________
TU: 705 [10/20/10]
EX: ???
EQ: 705 [10/18/10]
CK: 700 [11/03/10]

Anonymous · ‎08-21-2008

Not sure why people continue to say a date other than filing date. Here it is again:

BK's fall off your credit report 10 years from DATE OF FILING. If you file July 2008, it comes off July 2018. Only exceptions are Chapter 13's, that can come off in 7 years. Nothing to do with any discharge or adjudication dates.

Anonymous · ‎08-21-2008

Not sure why people continue to make claims they cannot support.

DOA with BK13 is date of filing. With BK7 it's discharge date.

http://www.ftc.gov/os/statutes/fcrajump.shtm

http://www.ftc.gov/os/statutes/fcradoc.pdf

§ 605. Requirements relating to information contained in consumer reports [15 U.S.C. §1681c]

(a) Information excluded from consumer reports. Except as authorized under subsection (b) of this section, no consumer reporting agency may make any consumer report containing any of the following items of information:

(1) Cases under title 11 [United States Code] or under the Bankruptcy Act that, from the date of entry of the order for relief or the date of adjudication, as the case may be, antedate the report by more than 10 years.

Message Edited by Noah_Bodie on 08-21-2008 05:41 PM

Anonymous · ‎08-21-2008

"Date of entry of the order for relief" is the filing date of the BK. That's the bottom line.

10 years from this date the BK's need to fall off (7 for Chap 13's, EX and TU anyway).

Anonymous · ‎09-30-2008

I have a question should the creditors that were included in the BK be falling off before the Chpt 7 is off then? How come it's been 7 years and some things are still on my report? Is it because they were included in the BK? How does that work?