SPIFIMAN1
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Under the revised bankruptcy laws from October 2005 bankruptcy's continue to show for 10-years from the date of discharge. |
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cricket
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after 10 years, i know that from my own mistakes, have a good day. sorry to say it used to be 7 years but now it is 10 |
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we_are_legion99
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Assuming you live in the USA, laws have changed and a bankruptcy will remain on record for ten (10) years from the discharge date.
This and other bankruptcy laws have changed because to many folks were using it to avoid paying debts. |
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OC1999
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Per Section 605(a)(1) of the Fair Credit Reporting Act(FCRA) a bankruptcy comes off of your report 10 years after the FILE Date
Section 605(a)(1)
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.
However, most credit reporting agencies as a policy will remove a Chapter 13 Bankruptcy after 7 years. |
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SEXYCHICK2008
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ITS 10 YEARS. I KNOW BECAUSE MY MOM HAD BANCRUPTCY 10 YEARS AGO AND ITS STILL NOT OFF. SHE HAD TO CONTACT LAWYERS SO THEY CAN REMOVE IT FOR HER WITH THE CREDIT BEREAUS. I JUST DECLARED 3 YEARS SO I WAS TOLD 10 YEARS |
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JAMES H
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10 years. |
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Think for Myself
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It's 10 now...
In truth, it will not affect you adversely for all the time that it is on the report. It could be longer then 10 BTW. Having things removed from your report is not all that easy. And there are 3 reporting bureaus.
Yes, it will affect your credit score. The unfortunate thing, is that it is less likely to hurt you as much as making payment arrangements with your creditors.
If you haven't filed, do make arrangements to pay things back. If you have, then you need to work on restoring your credit rating. Here are some suggestions:
-1 Put $1000 in a savings account and have the bank give you a loan against it. It's called a passbook loan, and it will show on the report. They'll give it to you if you are working.
-2 You can get a credit card secured by a savings account. That would be step two. First Premier has them.
-3 You can get a low limit card with a high yearly fee. Orchard Bank has them.
-4 You can then probably get a car loan-- high interest, but you can get one.
You can do this right away after filing.
A couple more tips on your score.
- Having unused "capacity" on credit cards is good.
- Having them used and paid within 2 years is important.
- NO late payements.
- Personal Loans that don't have "revolving terms' are better then credit cards with balances.
- Debt to income ratios that are good.
The real problem, not ending up in this situation again. |
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warzone-traveler
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Dont worrie find a rich girl!!!! |
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Crispy bacon, eggs and tomatoes!
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In the UK after 2 or three years depending on your indebtedness! |
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curiosity SAVED the cat
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it takes 7 years |
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elitesouthwest
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7 years from the discharge date |
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luvmy3
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It is usually 2yrs from your discharge date... |
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p_rutherford2003
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Typically 7 years from the discharge date. |
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smartiebc
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After 7 years |
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deemee
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7 Years. All information on a credit report dissapears after 7 years. However, a bankruptcy will affect your credit score for longer. |
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Patrick
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10 years from the date of filing. |
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tone
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It can be removed after 7 years from date of discharge, but many still show years and years later |
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fatboy
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never --- after 7 years it gets better but it will never go away completely |
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The Brain
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7 years from the discharge date. But you will be suffering from it for a lot longer then 7 years. |
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n_icoles ♥BMSD Stilettos♥
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from the file date 5-7 years. |
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