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You had a bankruptcy in 2004 when does it come off your credit report?

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2008-05-21 20:00:45
2008-05-21 20:00:45

10 years from discharge

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Bankruptcy can stay on your credit report for up to 10 years. If you obtain the credit report directly from the credit reporting agency (ie. Equifax, Transunion, Experion) the report will provide you with directions on how to dispute the information.


Bankruptcy only impacts your credit for 7 years. Contact Experian, Transunion, Equifax to get it removed from your credit report. Addresses and phone numbers to all 3 are avail. on internet,


If the debt that you were sued over, or the judgment itself was included in your bankruptcy, you only need send a copy of your bankruptcy papers to the credit reporting agencies. The judgment will not "come off", but it should get marked "included in bankruptcy" or "discharged through bankruptcy".


The statute of limitations for reporting information about a bankruptcy is ten years from the date it was filed. You did not mention the filing date, so the very late date your bankruptcy should show on your credit report would be September of 2006.


Seven years is the standard for anything that has been settled to stay on your credit report. So the normal type of bankrupcy, Chapter 13 I believe, will be off the report after seven years.


{| |- | AnswerSome things like filing for a bankruptcy never come off easily from your credit report as such an incident is considered as you are not able to manage your finances and lenders later see this as a risk.|}


The bankruptcy is not discharged. Your debt obligation is discharged. The discharge notice usually is mailed to you about 6 weeks after the 341 meeting. The filing of bankruptcy will stay on your credit report for 10 years from the date of filing.



Do not worry about applying for credit after bankruptcy. The applications will come to you before the ink on the court documents has dried.


Bankruptcy should be expunged from the credit report after the ten year from the BK discharge has expired. Credit bureaus are not as efficient or accurate as one would hope, therefore it may be necessary for the consumer to contact the CRA and request the entry be removed, be prepared to submit substantiating documentation. Consumer's should keep in mind that it is wise to monitor their credit history reportage on a regular basis.


No. The timing with which a bankruptcy is removed from a credit report has nothing to do with re-established credit - only time. Section 605(1) of the Fair Credit Reporting Act states that no consumer reporting agency may make any consumer report containing "Cases under title 11 [United States Code] or under the Bankruptcy Act that, from the date of entry of the order for relief or the date of adjudication, as the case may be, antedate the report by more than 10 years." Pursuant to 11 U.S.C. 301,


To determine your credit worthiness and history.


No the bankruptcy will not show on your credit history unless you filed as well. However, now the mortgage company has the right to come after you in full for the amount owed, since the Court has released him from all obligations.



yes you can definately report it.Every year, you can request a free report from any of the three credit. if you come to know and something is wrong You can improve your credit report legitimately and that can be beneficial.


The statute of limitations on reporting chapter 7 bankruptcies for 10 years has been in place for many years prior to the Fair Credit Reporting Act being amended in 2003. A chapter 7 bankruptcy can be shown on your credit for 10 years from its date of discharge.


Your bankruptcy remains in the court's index forever. Lenders have access to special non-public databases which they use when a person applies for a loan. Your name will come up in the bankruptcy index. If the lender finds you lied on the application your application will be denied. It would be better to be truthful when you answer that question.


It should have come off no later than 1999/2000. First make sure that it is on your credit report in a place that a lender may see it. Some CRAs send individuals a "complete" report that may not be avail. to creditors or potential creditors. You can also contact the CRAs directly. Experian, Trans-Union and Equifax are the CRAs.


NO... the debt remains on file with the creditor. If you apply for credit at a later date (after the bankruptcy has been resolved) - your history will still be available to anyone who does a credit search on your name. Creditors can still come after you for their money if you re-start a credit account.


Not likely. They can come to collect if you have a balance but sue you why?


It adversly effects your credit for 7 years. Except for a Chapter 7 bankruptcy which remains on the report for 10 years, no bad debt can stay on your credit repair beyond 7 years from the date the debt was originated. The law is on your side that it must come off.


Yes late payments can come off your credit report. They can be removed by either the original creditor that put it on there or by the credit bureaus. You can dispute late payments on your credit report with the credit bureaus using the Fair Credit Reporting Act. The FCRA requires the credit bureaus to contact the creditors to verify the late payment. If the late payment isn't verified it must be removed.


There is no real limit as to when you can begin considering buying a home after a bankruptcy, though it is much more favorable to wait at least two years, while you build your credit back up. Chapter 13 bankruptcy can remain on your credit report for up to ten years from the date it was filed. However, filing for bankruptcy can actually be somewhat beneficial for rebuilding credit. As bankruptcy eliminates all or most of your debts, your debt to income ratio improves. This means that more creditors will be willing to extend credit offers to you, which will allow you to begin the rebuilding process. Most credit obtained after a bankruptcy will most likely have high interest rates, but if you obtain credit that you can afford to repay, you will begin to see a definite improvement in your credit score. It is possible to begin the home purchasing process in as few as 18-24 months after filing bankruptcy. To start, you cannot be currently in a bankruptcy proceeding, your case must be decided. To begin the rebuilding process, check your credit report. Make sure that everything that is supposed to be included in the bankruptcy is included. After you've corrected any errors that may be on your credit report, it's time to start rebuilding your credit. Secured credit cards and installment loans are good ways to show creditors that you can again be trusted to pay back money that you owe before trying to jump right into a mortgage payment. When you are again able to qualify for a home loan, it might come with high interest rates. Don't panic. Try to make a larger down payment to keep the loan smaller, and make sure there are no prepayment penalties. This will offer you the possibility of refinancing at a lower interest rate as your credit improves.


No, but if she defaults on the loan then you will have to pay the amount due or suffer the consequences on your credit report.


Interesting Question! A credit score of Zero occurs for a variety of reasons-most due to no credit history, but not due to bankruptcy. Zero credit score can occur because you have not had any credit within the past seven years; you have never had any credit; you have had your credit account suspended due to report of identity theft or fraud; or you were convicted of a felony. There may be other reasons for a zero credit score not mentioned here. The normal range of score is around 300 - 850 (depending on your information source). After bankruptcy, a FICO score in the mid to high 400 range, but after a couple years, this tends to come back up to the 500s, even low 600s (depending on how many accounts were included in bankruptcy). Hope this helps!



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