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The account will or should be changed to read "included in bankruptcy". It will still however remain on the report until the seven year time limit expires. However, the account is charged off for the amount that wasn't collected and reporting that would be proper too. (Charge off is how the creditor reflects that you didn't pay and he had a loss on the account...that it was by bankruptcy makes no difference...actually worse).

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Q: If you declared bankruptcy can a creditor continue to mark your report as a charge off even after the date of your bankruptcy?
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Related questions

If a bankruptcy was discharged on an account that was sold to another lender and the original creditor is marking it as a charge off should it be marked as bankruptcy by the original creditor?

Yes, this debt should have been marked as a bankruptcy by the original creditor. It cannot be changed from a bankruptcy to a discharge unless the bankruptcy did not go through.


Can you rid charge offs on your credit report if that creditor was included in your bankruptcy?

The charge offs will remain the required seven years and should be noted as included or discharged in bankruptcy.


Can a secondary collection agency collect on a charge-off when the debt is over 3 years old and the original creditor has declared bankruptcy?

More than likely. Three years is not long enough for an SOL to expire. What probably happened was, the account was bought from the creditor, which is common practice. The BK of the original creditor, has no relevancy if the debt was sold.


Would a creditor be better off to settle for 30 percent of the total due in the case of a charge off rather than have the debtor file for bankruptcy?

This question could only be answered by the creditor.


What does a charge off mean on my repo'd car?

Your creditor added a negative entry (a charge-off) to your credit report and will continue to attempt to collect on the debt.


How do you remove charge offs from a credit report?

Charge-offs remain on your credit report for 7 years. If the account has been included in a bankruptcy, it should be marked as such...."included in bankruptcy". However, according to the Fair Credit Reporting Act, if you dispute the charge-off with the credit bureau and the creditor can not verify the account, it must be removed from your credit report immediately. Only the original creditor or the credit bureaus can remove a charge off, either through negotiations or through the dispute process.


How much will an attorney usually charge to reopen a discharged bankruptcy case to add a creditor that had been forgotten?

$300 include filing fee and attorney fee


Should you include your charge offs on your bankruptcy?

A very good idea. Any charge off - which is really only an accounting entry on the books of your creditor - that you haven't received an offical agreement/notice that the creditor has actually forgiven the debt and relieved you of having to pay, (not just accepted it may be worth nothing and uncollectable), is still an obligation to you.


Can you file bankruptcy after creditors have started legal action?

you can add a creditor any time just make sure you didn't make that bill in bankruptcy the courts can dismis your case if you did make another bill in bankruptcy. talk to your lawer some times they charge a fee to add a bill.


Can a creditor still charge interest rates if they are garnishing your wages?

If you have a garishee against your salary can the creditor still charge interest. Thanks Theo


Can a creditor remove a charge off?

Yes, a creditor can remove a charge off from your account and your credit reports. Credit bureaus can also delete charge offs from your credit report if they are disputed and not verified.


Do bankruptcy lawyers charge by the hour or by the case?

Most bankruptcy lawyers charge by the case. There are lots out there, you just need to call and get a quote from them.