One of my cards that I IIB was in collections for a long time 7 years this September, I recently filed for a CH7, on my credit report it showed as that account being scheduled for removal as of 9/12 with the BK does that now restart the clock for the 7 years or should it still come off by Sept?
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Retained Atty 4/2/12 - Filed 4/24/12 - 341 Meeting 5/23/12 - 
7/30/12 It's all over 
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It is my understanding that a CH7 will now stay on your credit report for ten years, not seven.
I am not understanding your post. If you filed in the past, before the BK laws changed in 2005. you may be able to contest anything on your credit report, due to its age and reporting.
If you have newly filed, or are planning to in the foreseeable future, which isn't, then the ten year rule applies.
Sorry.
"To go bravely forward is to invite a miracle."
"Worry is the darkroom where negatives are formed." -
Sorry I think I should have worded it differently, I've never filed for BK before, I had a CC that went in to collections in 2005 and was being reported on my credit report ever since, This month I filed for CH7 for the first time. From my understanding negative items on a credit report stay on for 7 to 10 years. On my credit report it said that negative mark (the cc) was schedule to stay on file until 09/12. Now that that card has been IIB and once discharged the status of it I would assume would change to something else, does that restart the 7 year clock or should it still be removed as scheduled. Retained Atty 4/2/12 - Filed 4/24/12 - 341 Meeting 5/23/12 - 7/30/12 It's all over Comment
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Negatives stay on your report for 7 years. Once you bk and discharge, your credit card will be IIB and will remain on your report for 10 years.All information contained in this post is for informational and amusement purposes only.
Bankruptcy is a process, not an event.......Comment
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Not correct. The BK does not restart the reporting clock. It should fall off 9/12.Comment
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Actually, it should be a non-issue. It's easy to get credit after bankruptcy, but you will never get a reasonable interest rate on anything except vehicles. One of my sons had a Chapter 7 discharge early last year and just got a 0% APR vehicle loan. As for me - I am just finishing my 2nd bankruptcy (4 months to go on a Chapter 13). So stop worrying about things that do not matter - like credit scores.Comment
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Didn't make myself clear. The bk will be on the credit report for 10 years.Originally posted by df04527 View PostAll information contained in this post is for informational and amusement purposes only.
Bankruptcy is a process, not an event.......Comment
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