The Day Has Finally Come!...No Public Record

[meateater]

Hi nevergiveup,

While the bankruptcy comes off the portion of the credit report that goes out in response to a request (and whatever else the reporting company does with the information), it still exists as a public record elsewhere. it's not that hard to find by anyone doing a background check (I work in an industry where folks have software and subscriptions to do this on their computers, and dread the day someone gets curious and runs my name). If applying for a mortgage, I'd answer the question truthfully (as hard as that may be, I personally would have a hard time applying because the last think I want to bring up is my financial past). They will probably find out anyway, and even if they don't find it at first and you get the loan, omitting the bankruptcy information could be considered fraud of some sort (such as the lender would not have approved the loan if they knew about the bankruptcy). The bankruptcy is old, you can present it in a positive way, so it may not end up being that big of an issue (but if they find a material omission or misrepresentation on the application, that will be a huge issue).

Good luck!

[Flamingo]

I too have no record of my chapter 7 (it's been about 11 years). I am filling out an application for a business loan which will be in my corporation's name. It asks "Have you ever had a bankruptcy? If so, attach the discharge papers."

I have heard that what individuals are able to access is not the whole record. Lenders have access to more in-depth info--but I do not know what that includes.

I feel I have "paid my debt to society" and should not be saddled after these long years with this bankruptcy.

My natural tendency is to always be truthful. But that makes me [U]feel[U]like giving up. Will the lender (an investment company, not a bank) be able to see this bankruptcy if I do not list it? Quite frankly, I have no idea where my discharge papers are!

Now [U]that[U] sounds like I'm competent, doesn't it.

I hope someone can help me here, or suggest another place to ask.

You've encountered the words none of us who have filed want to see on an employment application or otherwise...."Have you EVER filed bankruptcy." The answer for you is "yes" as you need to be honest about it. If you lie and say no, it is public information that is easily searchable.

[Flamingo]

I asked this question on another site, and got a response from a lender's agent. He should know because it is his business to. Apparently we have been misinformed. It never is off our record, and remains forever.

The bankruptcy is never "removed" from your credit report. After 7 years it is not used to calculate your score, but it will always show under the public records section. They will not remove it from your credit report.

Of course, maybe he is wrong.

Does anyone know if there is part of the credit record which the consumer cannot see (and cannot check for accuracy, either!)?

Getting a response froma "lender's agent" on any internet forum could be a 16 year old minor in front of a computer playing lender wannabe. Unless he provided you with a company name, bio and phone number that you could check as legitimate, do your own homework with verifiable sources. After 10 years, a Chapter 7 is removed from your credit reports, public record informatoin on those reports and all. However, it is permanently on public records (court) and permanently on the records of any creditor you listed in your filing. The public records information does get removed from your credit report 10 years afer filing a Chapter 7, 7 years after filing a Chapter 13.

[nevergiveup]

Real Deal

Getting a response froma "lender's agent" on any internet forum could be a 16 year old minor in front of a computer playing lender wannabe. Unless he provided you with a company name, bio and phone number that you could check as legitimate, do your own homework with verifiable sources. After 10 years, a Chapter 7 is removed from your credit reports, public record informatoin on those reports and all. However, it is permanently on public records (court) and permanently on the records of any creditor you listed in your filing. The public records information does get removed from your credit report 10 years afer filing a Chapter 7, 7 years after filing a Chapter 13.

I know this company and this guy [U]is[U]a representative there. Just an amazing coincidence that he happens to work in my field. So if he says it is on the credit report, maybe it is. It wouldn't be the first time consumers have been the last to find out.

[Flamingo]

I've inquired about this previously with credit reps that I have spoken with over the years and also bank reps. Any BK information after 7 to 10 years on your reports, depending what chapter you filed, is eliminated from the credit report records. It does not stay on the "other side" for creditors to form an opinion on you after that period of time. However, if one of those creditors was included in your filing and you are reapplying to them for credit, they will have that information on their own records when researching you. Your credit report will not have it.

Ask this guy to run your credit report and get a copy from him as to what he runs...you will see that your Bk information will not be showing. Ask him to do a background check on you and he will not find it unless he specifically searches BK recorsd or finds a link online somewhere that indicates you filed (and believe me, they are out there if you are on mailing lists relating to BK).

[LSUTiger32]

Congrats on the real "fresh start!"