A friend of mine has a discharged Chapter 7 BK back in 1996. Is it possible to improve his credit report (deletions, etc.), or would he have to wait out the 10 years? Anyone who has experience with repairing BK's, please reply. Please let me know how you went about repairing too! Thanks for your help!
Penguin, I my BK-7 is from 1992. It was removed from my Experian profile by Lexington in 1998 and from my TU profile in May 2001 by Junum. It still shows on my Equifax report. The reason I belive that those companies were able to delete it was because those listings contained errors and they probably got it off on a technicality. I have not been able to find any errors regarding that listing on my Equifax report but I'll sit back and see what Junum does. At this point it's so old it shouldn't hurt me that much so I'm not too concerned with it. Manny
My ch 7 bk is from 92. Lexington removed it from my Experian report. I am unable to receive prime cards til it falls off Equifax and TU. SO I just keep getting interest reductions and annual fee's removed from my sub-prime lenders.
I also filed Ch 7 in 96. Maybe we were in the same court. (LOL). Anyway. I have close to 10K in unsecured credit and a Fico of 675 (in whatever month they started selling it). Tell him to order all three reports. Dispute everything that doesn't say "Included in Bankruptcy" to say exactly that. That changes the balence owed to ZERO, thats what make that so special. Get a couple of secured cards and pay well on them. The sub-prime offers will start pouring in. I have DMB, PROVIDIAN (2 CARDS) and CAPONE, and a Target (which I got after pulling the score). I think my score will be higher when I pull it after Taget is 6 months old. You can rebuild. I faked out a Mortgage Broker who looked at my copies of my reports and he said I could get an automatic A+ loan. Just stay on time with everything after the chapter 7.
Thanks for all your replies. G. Fisher: his overall goal is to just improve his credit reports as best as he possibly can. He's not planning to buy a house, but he may be buying a car soon. So it sounds like getting the BK's removed is difficult? The one thing I don't really understand is that under the "Public Records" section in Experian's report, an entry of BK is listed there, and it includes the total of all accounts under the BK. This entry is not due to fall off until 2006. However, the individual listings of the different credit card accounts have 2003 as the fall off date. Can anyone explain this to me? Thanks!
