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It has always been 10 years. Some CRAs will take it off after 7. Bankruptcy has its basis in The Bible. The Bible states 7 years so many places (including CRAs) ignore it after 7. More input from FAQ Farmers: * I don't know for how long, but for at least the past 8 years the rule has been that Chapter 7's are on your credit report for 10 years, and Chapter 13's are on your credit report for 7 years. I think the fact that different chapters affect your credit for a different amount of time is where the confusion comes from.
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∙ 17y ago
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Can you remove a bankruptcy dismissal from your credit?
No. Backruptcy will always appear on your credit. After 7-10 years your credit will be as good as someone who has not filed bankruptcy.
How long does a bankruptcy show on your credit?
Bankruptcy will always be on your credit scoring record. After the bankruptcy is discharged it will have a less negative effect, and then after 6 years it is supposed to be considered done with and you get get a mortgage, loans etc. However, having a bankruptcy on your record will always have some negative effect even after the 6 years are up. Bankruptcies are maintained on a credit report for at least 10 years.
When the 7 or 10 years are over isn't the bankruptcy automatically removed from the public record?
No it will always be on your record.
Does filing bankruptcy remove bad marks from your credit report?
No. What will happen is all the defaulted accounts listed in the bankruptcy will be marked as such.."included in bankruptcy". The credit history, late payments, judgments, etc. will remain the same. In addition to the scenario in the above answer: The bankruptcy filing itself will be listed in the "public records" portion of your credit report. The disposition needs to be listed also (the discharge). The "bad marks" (i.e., the accounts) will show on your credit for 7 years. The bankruptcy listing will show for 7 years for a completed and discharged Chapter 13 bankruptcy and 10 years for a discharged Chapter 7.
If you have a boat that was listed in a bankruptcy that the lender never repossessed what can you do with it 10 years later?
Nothing unless you receive a clear title of ownership from the lender.
Can a bankruptcy entry on a credit report be removed when the bankruptcy was discharged in 1999 and it is listed on the credit report as 2006?
No, it cannot be removed but the information can be amended to read correctly. A bankruptcy discharge remains on a credit report 10 years from the date of discharge.
How long is something listed on a credit report?
I've seen accounts listed for years. A bankruptcy will stay on for 10 years. If you have an account that is paid and closed and you want it off of your report you can dispute it with the major credit reporting agencies.
What year did the law change for bankruptcy on your credit report for 10 years?
The time limit for a discharged chapter 7 or 13 bankruptcy to remain on a credit report has always been 10 years. A dismissed chapter 7 wil remain 10 years, a dismissed chapter 13 will remain 7 years.
Is chapter 7 bankruptcy clear 10 years from court announcement or hearing date?
Chapter 7 Bankruptcy will be removed from a credit report 10 years after the date the Bankruptcy was FILED.
How many years will filing for bankruptcy be on your record?
10 years
How long does a bankruptcy stay on your credit report in tx?
A Chapter 7 bankruptcy stays on your credit report for 10 years. Generally a Chapter 13 bankruptcy will be removed after 7 years, but can remain up to 10 years.
When did the time limit for a chapter 7 bankruptcy change from 8 years to 10 years and is a bankruptcy petitioner protected by a grandfather clause if they filed before the change?
The length of time a discharged 7 or 13 bankruptcy can remain on a credit report has always been 10 years. A dismissed chapter 13 remains for 7 years a dismissed chapter 7 remains for 10 years. Therefore, no type of clause applies because the requirement has never changed. Bankruptcy laws and credit reporting laws are two entirely different issues.
