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The legal action of a Chapter 7 bankruptcy can show on your credit report for 10 years from its' date of discharge.
Chapter 13 can also show for 10 years, but it is customary for those to be shielded from view after 7.
Once again, the time period runs from the date of discharge, not the filing date.
I disagree with The Credit Lady on one point: The 10 years (or 7 years in the case of Chapter 13) begins to run from the Order for Relief. The Order for Relief is immediately granted when a debtor files bankruptcy (i.e. the debtor is immediately protected from creditors), so the 10 years (or 7 years) begins to run from the filing date, not the discharge date. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts, which I do not warrant, and I am not suggesting any course of action or inaction to any person.
As far as I'm aware, it is removed automatically after 7 or 10 years from the filing date depending on which chapter you filed.Thanks for using Answers.com!
I filed Chapter 7 last year and when I applied for a credit card this year I was denied and the reason was "bancruptcy".
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.
Ten years from the date of original filing.
On my website, I have an article on 10 tips to rebuilding your credit after bankruptch: http://www.chs-law.com/2005/05/rebuilding-credit-after-bankruptcy.html
As far as I'm aware, it is removed automatically after 7 or 10 years from the filing date depending on which chapter you filed.Thanks for using Answers.com!
I filed Chapter 7 last year and when I applied for a credit card this year I was denied and the reason was "bancruptcy".
How to get after job filing chapter 7 bankruptcy once it appears on the credit report
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.
Ten years from the date of original filing.
One day. You can apply any time. However, your chapter 13 stays on your credit report for 10 years.
Filing for bankruptcy can have a lasting effect on your credit and that can cause some difficulties in getting any type of credit. Unfortunately, bankruptcy stays on your credit report for 7-10 years, after which time it is on your to work to get credit back!
A chapter 7 bankruptcy filing remains on your credit report for 10 years. Chapter 13 bankruptcy remains for seven years. Under chapter 13 bankruptcy you repay at least a portion of the debt, so it is removed a little sooner.
On my website, I have an article on 10 tips to rebuilding your credit after bankruptch: http://www.chs-law.com/2005/05/rebuilding-credit-after-bankruptcy.html
No, in fact it will leave a Bankruptcy record on your credit report for 10 years.
You can't get it removed. It will stay on there for 10 years and that is just a consequence of filing for bankruptcy. You can write to the credit reporting agencies to have the entry changed to reflet that it has been dismissed.
Whether you are filing Chapter 13 or Chapter 7 bankruptcy, your credit score will be directly impacted for 7-10 years AFTER you exit protection.