I'm confused as to how long bankruptcy stays on your credit report

[Pandora]

despite some reported online information to the contrary, the reports that chapter 13 reorganization bankruptcy appears on one's credit report history for a period of 7 years from the date the case is completed and discharged, and that there may be a cloud of bankruptcy for 12 years from filing, such indications are categorically false. The 7 year reporting period is from the date of chapter 13 filing, not from the date the several year chapter 13 process is completed. The bankruptcy discharge date has no bearing or effect on when the bankruptcy filing information expires and is expunged from the credit report.

whew!

[jange]

whew!

Exactly!! Like paying for 5 years isn't bad enough!

[df04527]

Wow cool --I looked up what the FCRA says. I see all 13's go in 7 years and out of habit i glance at the file date....Good find. Here's another from the horses mouth...

605. Requirements relating to information contained in consumer reports [15 U.S.C. §1681c]
(a) Information excluded from consumer reports. Except as authorized under subsection
(b) of this section, no consumer reporting agency may make any consumer report
containing any of the following items of information:
(1) Cases under title 11 [United States Code] or under the Bankruptcy Act that, from
the date of entry of the order for relief or the date of adjudication, as the case may
be, antedate the report by more than 10 years.
(2) Civil suits, civil judgments, and records of arrest that from date of entry, antedate
the report by more than seven years or until the governing statute of limitations
has expired, whichever is the longer period.
(3) Paid tax liens which, from date of payment, antedate the report by more than
seven years.
(4) Accounts placed for collection or charged to profit and loss which antedate the
report by more than seven years.

[tobee43]

well, i'm glad we cleared that up!!!

so all you that had or have a 13 get the 7 years PLUS your 3-5 year sentence..... while we 7's get the 10. (we'll see on the 7 LOL!!) hopefully by that time anyway, over 1/2 of the entire US population will have a BK of one form or another on their credit reports the way things have been going are continue to do so.

[df04527]

Duh i just noticed i bolded paragraph two when i meant to bold paragraph one......sigh

[tobee43]

Duh i just noticed i bolded paragraph two when i meant to bold paragraph one......sigh

LOL!!! you bolded perfectly...LOL!!! as all birds do bold..or molded or molted??

[df04527]

Lol tobee your too much! Lol