(I filed CH7 BK in Florida, discharged in 6/97) I've tried to find a definite answer to my question, but everything I read tells me "7-10 years" My credit report reads: Bankruptcy Filed 03/1997; US District Bankruptcy CT - FL; Case or Other ID Number XXX-06/97; Joint; Personal; DISCHARGED CH-7; Is there a formula for finding out when the individual accounts will drop off, and when the BK will vanish from the public records section? Do the accounts drop off seperately from the public record? Any help is appreciated!
Yes, BK's can stay on your account for up to 10 years. Are all 3 bureaus showing the BK? My advice would be to check your three reports and dispute as 'not mine' with the bureaus that it shows up with...I've heard (please note that this is just hearsay) that they never verify BK's and it will drop off your CR. BTW, Privacyguard.com costs $1 for a 3-month trial membership and you can pull a merged report once every day! It does not give you full account numbers (which you would need for disputes), but it is a (pretty) reliable, cheap way to track your progress. Best of luck to you! )
Chapter 7 Bankruptcy - Public Record - 10 years Chapter 13 Dismissed - 10 years (However, EX and TU remove at 7 years and I've found EQ did, too) Chapter 13 Discharged - 7 years The tradelines in BK were 7 years from their respective DOLA. Hope this helps.
Thanks for your help - I'll be looking forward to the TL being gone next June, then. As far as claiming the bankruptcy isn't mine - I've already disputed a few things that weren't showing discharged as part of the BK that should have been, so I guess I couldn't now claim that the BK isn't mine, hoping they'll just drop it. or am I wrong?
Chapter 7 Bankruptcy Filed in 6/1997 will continue reporting until 6/2007 sorry to say. But like the others said if you start disputing this; you may get fortunate to bump before this time. What NanaC was refering to when she said tradelines remain 7 years - is each of the creditors having been included in the bankruptcy will drop off.
thanks for your reply I got the 7 year TL, 10 year public record thing No harm will come to me if I dispute the public record then, is that right? I'm probably confused, but if I dispute a TL on an account and it's validated, I restart the clock counting down how long until it's removed. or am I on crack? Either way, disputing the Public Record won't hurt anything, and might result in having it dropped. How often should a person dispute a public record? Dianna
Take all of your disputes and divide them in half; say that you have 10 total; 1st 30 days send in 5; 2nd 30 days send in 5. This way you are spacing them out 60 days each & it won't be so easy for the CRA to send you notice of being frivolous. When you dispute regular creditor tradelines - the CRAs are going to send out verification form to the creditor (of course alerting them of the dispute) but the creditor has a smaller window to work with and sometimes they mess up on responding. So say they don't make it back in time the CRAs will delete - they can still respond after the allowed time, but the CRAs must notify you within 5 days of the re-insertion. If they don't you have but to write back in pointing out the fact of the matter and that you want it removed for good. Now when disputing public records; it is an independent source that is verifying with the court house, they have nothing to gain or loose in responding to the dispute, the creditor will never know the fact of the matter. Unless they have permissible purpose down the line to pull and see credit report for themselves. Time limit on them as well, so sometimes you will get lucky that someone drops the ball. It is really trial & error, no one has a absolute sure thing here. Now understand though; that if you accomplish removing proof of the bankruptcy all together; you are still obligated when ask to disclose that you did in fact file bankruptcy (highly recommend that you answer this truthfully) since it would be considered perjury to lie and believe me, the CRAs are not the only provider of public records. This fact can be double checked through other sources. Now it is not your fault for the others not asking, if they don't see it, then that is not your problem. And it is that part that helps to get you further in rebuilding your credit. You start out disputing "no knowledge of account" if this does not work, for the next round; look for errors in the reporting like: Incorrect status Incorrect balance Incorrect last activity date Incorrect file date Incorrect status Incorrect status date Incorrect assts Incorrect liabilities... You can circle these back around later as you go if need be. If you do get a frivolous letter, then maybe wait 90 days then go back to disputing again. If you are worried about re-aging; then keep ahold of prior credit reports for each CRA (they won't accept results from one to fix the other). But if you see it change then forward copy of prior credit report pointing this fact out. Now understand there is one date which you don't have to worry about, and that is the Last Reported date this has nothing to do with the tradeline information; it is just a time stamp as to when they last verified for the CRAs. Dates to be concerned about include: Open Date Last Activity Date Assign Date Charge Off Date Late Dates Reason I say assign date is that if a collection agency is reporting this date & not the original charge off or last activity date, then you definitley want to confirm when the CRAs show this to exprie and work the formula on reporting to make sure it is expiring when it is suppose to. Ok, hope this help you out, have a good day.
On disputing BK's...the BK has to be reported 100% correctly, as does everything. If there is an error, then you have the right to dispute it. For instance, if a BK has a missing number in the account number, you can honestly say "I never had a BK7 with account #XXX" Or if the assets are wrong "I never had a BK with assets of $XXX"
