TLs with BK7*** 7 vs 10 yrs****

<bump> for ya' hostage.

 

It is 7 years from the date of the original negative entry. For example, if you have a TL that reported 30 days late in 1/2001, then 60 days late in 2/2001, then 90 days late in 3/2001, it would be due to drop off your report 7 years from 1/2001 or 1/2008.

 

BK7 can stay up to 10 years from the date of discharge of the BK7 itself...not the delinquency of the stuff included in the BK7.

The only reason I know this is that I have tried and tried to get my deleted by every way known to man, but it continues to remain, although it was discharged 2/94. (I seriously believed for quite some time it was 7 years for BK7; however, it IS only 7 years for BK13.)

I know others who HAVE gotten their BK7's deleted successfully, though...so you may do a search for their methods and try 'em yourself. I just didn't have luck with those methods at all.

Good luck to you....

 

By no means arguing because I don't want to take the thread "hostage" and defeat hostage's purpose, I'll just propose a few points here:

• FCRA sets 10 yr clock on bankruptcy upon "order of relief" which is, AFAIK, the filing date.
• Despite when an account is late, charged-off, whatever, inclusion in BK is a reportable event on the account, clock of said event starting at filing.
• The clock for the accounts (as opposed to the public record notation), since FCRA is not clear otherwise, also run 10 yrs. BUT, AFAIK, CRAs seem to have the practice of deleting the accounts at the 7 yr. mark. Thus, one could ask but not demand that the account be deleted at that point.

I said this stuff in another thread but since I've only been here a couple months and these are important questions for me with BK7 filed 1/97, I'm anxious to have myself straightened out on these matters if others can speak up about it.

AND, of course, hostage deserves more diverse input than just mine.

Thanks

 

If these TL's are on EXP, it tells you what date they are set to be purged. It says "7 years from the first date of delinquency." Your report will say "reporting until xx/xx."

 

Nothing wrong at all with a CRA setting the clock too early !

 

My dh has a montgomery ward account that was incl in ch7 bk 7/96. This is my last incl. in bk account that remains and those suckers are sticky considering they are out of business!! It only shows up on Exp w/ a deletion date of 8/2003. Ok, I know for a fact the dola for this account was 12/1995 yet the only notation on his report is the incl in bk notation - no notes on deliquency dates. I believe it was last updated in 1999. I have disputed this one twice as re-aged, I have no written proof of the dola just the memory that before Christmas we stopped paying on everything and were saving money for the bk filing.

 

My only fear on that one, kelcol, would be trying to dispute the roll off date and then they say, "oh yeah, included in BK7 filed 7/96, huh, well since Section 605 of FCRA doesn't prohibit us from doing so, why don't we just set the roll-off date to 8/2006, howdya like them apples !"

Scary !

 

This is the scary part about all of these issues.....By drawing attention to the TL, are you also drawing attention to the fact that the bk is gone early by dispute?

 

Dang, LisaMC, those are impressive score matrices, headed for 700+ !

Sorry, I digress...

 

Ok I am going to look like a total nitwit w/ this question I am sure, BUT here goes...are you saying that they have the "option" of deciding if your inc. in bk tl's fall of in 7 or 10 years? or saying that if I dispute the dola of the actual inc. in bk tl that I am admitting the bk therefore screwing myself from removing the bk early?

LOL I'm really tired and I am having comprehension issues tonite!!

All of my (well dh's actually) other inc in bk tl's either fell of or were disputed off w/ no problems but this one will not budge! My first dispute I "not mine"'d it, the 2nd I disputed as reaged. I've kinda left it alone but it's really bugging me LOL I really expected that one to be my easiest deletion!!!

*signed* the resident nitwit

 

Thanks Crofttk, I have had pretty decent luck with EQF and TU. For DH, both of those have 1 neg and the bk was deleted. If I dispute the last neg on his EQF, his score shoots to 759! That scoring model places a huge emphasis on the last negative. I have had horrible luck with EXP for both of us. They haven't even allowed me to dispute anything in over a year. A lawsuit is all that is going to clean that up, and I am just not ready to go through that again!

 

In short, this is the only conclusion I've been able to reach so far!

Out of respect for hostage's thread, and since this is at about a bullseye on my radar screen, I will post another thread repeating what I posted at two other forums and see what kind of input/ideas/criticism I can generate ! ;-)

 

..unless hostage wants me to post it here so "his" thread gets highlighted as "lively" sooner ?

 

LOL the suspense is killing me...

 

Well, it looks like hostage has left the building and since it seems to relate strongly to his (?)question and I like the thread title and it's due to "go green" soon, here goes:

I posted this a bit ago at two other forums and haven't gotten an overwhelming response. Since there is a larger and more diverse group here, I thought I'd give it a shot:
................................................................................................................................

Well, I thought I had this right. I thought the PR notation of (my 1/97 filing of) BK7 would stay on my file for 10 years but the ACCOUNTS "included in bankruptcy" could only stay on my file for 7 years. I was pretty happy, anticipating these accounts would "roll off" my file in 1/04 or 2/04 or maybe even the three months early I've read about !

However, a moderator at another forum (that I've seen some of you folks visit) said:

"Yes/No........for some reason debts included in BK don't come off in 7-years they stay the full 10, with the BK. Dispute with the CRA's as not yours. Once you get them deleated go after the BK the same way."

HELP !

I got out my handy-dandy copy of FCRA and read section 605. Up through 605(a)(1-5) it says:

That's not as clear as I hoped it would be and I've come up dry on the issue in the FTC Staff Opinion Letters (under Section 605). (5), above, says "any other adverse item of information" but that is as opposed to (1) which refers to "cases....under the Bankruptcy Act". Does "case" include the TLs for the accounts included in BK or do the account TLs fall under the scope of "..other adverse item" ???

I thought I had read at more than one forum that PR stays 10 years but included accounts only 7 years.

Is it possible deleting IIB accounts after 7 yrs just happens to be common practice at the CRAs and I have no basis to demand their removal when the 7 years are up ?

Oh yeah, Experian shows the IIB accounts as scheduled to come off in 1/04 which reinforced my "conclusion". EQ & TU have no such notation, I guess they don't do that like EX.

Any thoughts ???

Thanks in advance.

P.S. Exceptions to the clock given in section b) say that info. can still be reported (indefinitely, I guess) for employment inquiries over $75,000/yr. and credit/insurance apps. over $150,000.

P.P.S. hostage, If you'd rather split this off to another thread I'll do it, with CCN Steve's help.

 

Not trying to cause trouble here, but the 10 yrs is only for the filing itselfm the public record item.

The included in accounts have to fall off after 7 yrs. If a BK is later filed on an already delinquent account it does not restart the clock.

For example, I was 30 days late, then 60, then 90, then Charge Off, then stayed charge-off for 6 months, and in 7th month filed BK. This filing does not reage the delinquncy since it is considered a "subsequent event" by the FCRA. No event can extend that 7 year start datefor a tradeline that starts out negative and ceases to ever become positive.