No, it will remain on the report until the expiration date for whatever type judgment it might be. Generally judgments are expunged from a CR after seven years. The entry should be noted as having been "included in bankruptcy".
Technically it can stay on 10 years since it is a public record. However, with persistance you can have it deleted almost as soon as it goes on your credit report. Look at credit boards dot com
No. In most cases, public record will remain. That is why many BK attorneys, credit counselors, etc. inform you that a bankruptcy never really "goes away".
Your credit report will show both the accounts (which were listed first) and the legal entry of the bankruptcy in the public records portion of your credit report. Once a bankruptcy is discharged, credit grantors should update the account listing (called a trade line) and make sure that no derogatory information is showing (like past due balance or collection account notations) EXCEPT for the "included in bankruptcy" statement. This is what SHOULD happen. It's up to you to follow up and make sure that your credit report looks like it is supposed to after a bankruptcy.
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.
bankrupcires stay on for 10 yrs. But when you gfinalize the bankruptcy the debts are automatically removed anyways.
A bankruptcy is not reported to the credit bureaus by the person who filed the bankruptcy. There are hundreds of operators of databases that collect information from public records and sell them to other institutions such as credit bureaus. Therefore if the bankruptcy is valid, it will be reported and placed in the public records portion of the consumer's credit report and will remain there for the required 10 year time limit. If it is a reporting error by the CRA the consumer should send a letter of dispute, with documenting evidence and demand the bankruptcy be removed from their credit report.
The Fair Credit Reporting Act allows a bankruptcy to show for 10 years from the "date of entry of the order for relief or the date of adjudication". This refers to the legal item which appears in the public record portion of a credit report. Any tradelines that were included in bankruptcy, which are the accounts listed in the report, will be shielded from view after 7 years.
A bankruptcy is "on" your credit report the instant you file it and will not be removed for 7-10 years. Its a public record. If you dismiss the bankruptcy the day after filing, it will still show up.
The bankruptcy itself will show up on reports very soon after it is FILED. The discharge itself is not reported, just the public record of the bankruptcy itself.
Bankruptcies are a matter of public record and this is why they appear in credit histories. A Chapter 13 listing will remain on your credit report for seven years from the filing date and a Chapter 7 will remain on the credit report for 10 years from the filing date. The credit report entry will state the bankruptcy was filed and dismissed, not discharged.
No. Filing a bankruptcy creates a public record that does not go away because you did not complete the bankruptcy. - once you file and get a case number you have filed for bankruptcy. if you didn't follow through and it got dismissed is regardless. you still filed for bankruptcy and it will still be on your credit report.
We these day's anything is included online public records. It's said but anything that you do is public, your income, children, age, statues, car you drive and credit anything is up there.