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Answered 2010-04-14 00:03:03

Most states do not require you to take a credit counseling course before filing bankruptcy. This is typically a volunteer activity.

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A bankruptcy will remain on a credit report for the required ten years, it cannot be removed arbitrarily.


It will remain on the report for the required length of time and should be marked "included in bankruptcy."


Any type of bankruptcy will remain on a credit report for the required ten years.


Bankruptcy. Bankruptcy will not remove a judgment from the debtor's credit report. The judgment will still remain for the required time if it is discharged in bankruptcy, settled or paid in full. Valid judgments remain for the required 7 years. Most judgments are renewable and can be reentered on the debtor's credit report whenever that action is taken.


The bankruptcy will appear on their credit if you include this card in your bankruptcy. If you leave the card off the bankruptcy, it will not effect their credit.


Bankruptcy lowers your credit report.


No, if property has been foreclosed upon the notation will remain on the credit report for the required amount of time of seven years from date of foreclosure. A bankruptcy remains on the credit report for ten years.


Yes; however, the issuer is not required to continue to extent you credit (can close the account).


will bankruptcy increase you credit score over time


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


If your partner files for bankruptcy and you don't then the bankruptcy will not appear on your credit report. But you will be partly responsible for before bankruptcy filing. Generally filing bankruptcy will affect the credit rating of the individual who filed it.


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.


A dismissed bankruptcy whether voluntarily or done by the bankruptcy court will remain on a CR for the required 7 years.


Filing bankruptcy does not remove a charge off report from a credit card on your credit report. It just adds bankruptcy to your credit report.


You do not have to necessarily get credit counseling before you can file for bankruptcy.


No, valid negative information must remain on a credit report for the required amount of time. In the case of a chapter 7 bankruptcy it is 10 years from the date of discharge.


This is an incorrect assumption that leads many people to avoid filing for bankruptcy. They fear that a bankruptcy will ruin their credit for a long time and that they will not be able to use credit, rebuild their credit or purchase a home in the future. The reality is that the majority of the people who are considering bankruptcy, already have poor credit, due to late payments, repossessions and foreclosures. Further, most people who file for bankruptcy can rebuild their credit to a relatively good level after two years. This depends significantly on what they do after filing for bankruptcy. It is important that you work toward rebuilding your credit after filing for bankruptcy.


The only way to remove a bankruptcy from your credit report is to dispute it to the credit bureaus. The credit bureaus have 30 days under the Fair Credit Reporting Act, to verify your bankruptcy withe the court that filed it or it must be removed from your credit report.


Bankruptcy will remain on a credit report for the required ten years. There is no recourse to have the entry removed before the time limit has expired.


Debts included in the bankruptcy should be noted as such in the credit report. The bankruptcy will remain on the credit report for ten years.


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.


The bankruptcy will remain on the credit report until the required ten years has expired. UPDATE: Actually, you can force Equifax, Experian and TransUnion to remove a Bankruptcy from your credit report and you can do it legally using a federal law that is in place. Credit Bureaus MUST have "verifiable proof" of the "bankruptcy" in their files if they are going to report the negative item on your report. The dirty little secret the credit bureaus don't want you to know is that they do not have any "verifiable proof" in their files for any of the negative items on your credit report. The Federal Court that the bankruptcy was filed in may have this information on file but the credit bureaus don't. If you request the credit bureau to provide you with the "verifiable proof" that they have in their files they will remove the negative from your file.


When in bankruptcy it is not possible to have a credit card. Once the terms of the bankruptcy have been met, some credit card companies will consider issuing a credit card to some people.


You can declare bankruptcy due to credit card debts, yes.


Yes. It is more difficult, but it is also ESSENTIAL to recovering from bankruptcy. You must take out credit and have precise, on time payments in order to help rebuild your damaged credit score post bankruptcy.



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