Your confusing credit reporting with the BK laws. Different things. The laws changed the time limits between filing, they don't effect the credit reporting agencies....which are private information services and can basically do what hey want. As a mtter of federal court your record is available for a long, long while for anyone that wants to look, or pay someone to look for them. Most credit reports look for 10 years. how long a lender may care about it is another story. Their own personal preference.
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.
A bankruptcy can only be deleted by disputing it to the credit bureaus. Under the Fair Credit Reporting Act, the credit bureaus have 30 days to verify the listing or it must removed from your credit report. This will delete it from your court records only your credit report.
credit card debt
:A bankruptcy under chapter 7 or 11, or a non-discharged or dismissed chapter 13 bankruptcy generally remains on your credit file for 10 years from the date filed. A discharged chapter 13 bankruptcy generally remains on your credit file for 7 years from the date filed.
Ten years.
Been paying a credit card under a payment agrement the company sold on the debt to another company and the have sent a letter and a draft of a bankruptcy order for the full amount!
I believe it doesn't matter what state you filed, bankruptcy is a federal matter. It will stay 10 years on credit reports!
The card holder is under no legal obligation for the card holder to continue making payments after filing for bankruptcy, unless the case is dismissed without a discharge. There are some who believe that they can improve their credit rating by pay off debts that were discharged in a bankruptcy, but I believe there are better methods to reestablish credit after bankruptcy.
Assuming that you properly listed the debt in your bankruptcy, the creditor should report the balance owed as zero and it should also correct your credit report to show that the debt was discharged in bankruptcy. You should send a certified, return receipt letter (keep a copy) to the credit card company and enclose a copy of your discharge. Demand that they correct this entry on your credit report. If they fail to do so, contact a local bankruptcy attorney for further assistance. Failing to correct a credit report can be a violation of the discharge order and the bankruptcy court could order the creditor to pay you damages if they fail to correct the error. You should also write a dispute to the three credit reporters: Experian, TransUnion and Equifax, and have them insert it in your report, i.e. "This debt was discharged in bankruptcy on _____ (date)."
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.
You can dismiss a bankruptcy. (Motion to dismiss) However, you will no longer be under the protection of the bankruptcy courts, will still owe everything, and will still have a bankruptcy on your credit report. You may also be prevented from filing again for quite some time. Talk to an attorney about your individual circumstances and how your local Bankruptcy court handles these situations.
Yes, you may need to correct if it is asked about.