I responded to a question in another thread and decided to start this new thread as I have read so many posts re:bk reporting times on the CRAs reports. The subject can be confusing so I hope this helps answer some of the questions.
I do realize that there exists a FTC opinion letter re:Section 605, Paragraph (a)(1)....but this opinion was in regards to an "involuntary" chapter 13 filing. An involuntary bankruptcy filing is a filing that is done by the debtor's creditors and not by the debtor him/her self. When one is considering bk the most important aspect pre-filing is to educate yourself. There is so much information available on the internet...once you file it is hard to go back and erase that filing so "caveat emptor". Hope this helps. clc
Thanx CLC, I had been taught, IN COLLEGE btw, that one could file CH13 to take advantage of their rather diligent debt validation procedures. And then once a problem is straightened out the BK could be dropped and it would be removed from the CR. Darn important to know it's NOT the case. And it's actually too bad too. Fed Court could have been a good place to fix some of these issues and have the system do it for us.
I filed a chapter 13 bk, decided not to go thru with it before any filing fees had been paid. I easily, on one attempt, had it removed from Experian and Equifax. Trans Union was a bit tougher as their policy is to report it for 7 years. But the other 2 apparently not.
LKH, Do you think not paying the filing fees helped? Or did you request to pay the fee in installments when you filed? I mean usually the courts won't file if no fees are paid but in Chapter 13 you can request that the fees be paid in 4 installments...so they would file it based on that. I know people who filed in '96 and then failed to show at 341a because they changed their mind (pro-se) and of course it was dismissed....but it is still on their credit report...but the date is wrong...so their dispute says "didn't file bk 13 on such and such date". They are still awaiting a response. I'm hoping that because of its age the court clerk won't have the info anymore. clc
I did request to pay in installments. They set me up for 2 payments. When I didn't pay, it was obviously dismissed. As far as the verification goes, from what one cra told me, (I don't remember which one) they verify by use of the online system that most bk courts have. I think it is called Mavis.
LKH, I'm in PA and the system is called PACER here. At my office we can access bks all over the country using it. Never heard of Mavis...I'll ask about it tomorrow. Thanx, clc
