While there are some Federal Laws on fair credit reporting...credit reporting is an service information service provided by private cos for it's customers...they can provide reports for any period the customer wants to purchase...some customers only require reports covering a few years and certain items...most standard credit reports have parameters that include BKs for 10 years, and liens, court jugdements, along with criminal and work and address history. A BK, being a federal court action, is a matter of public record and available to anyone looking for almost forever. You can't change or tell someone to ignore the accurate history you make for yourself.
Seven years is the standard for anything that has been settled to stay on your credit report. So the normal type of bankrupcy, Chapter 13 I believe, will be off the report after seven years.
10 years from discharge
Bankruptcy can stay on your credit report for up to 10 years. If you obtain the credit report directly from the credit reporting agency (ie. Equifax, Transunion, Experion) the report will provide you with directions on how to dispute the information.
Never
If the debt that you were sued over, or the judgment itself was included in your bankruptcy, you only need send a copy of your bankruptcy papers to the credit reporting agencies. The judgment will not "come off", but it should get marked "included in bankruptcy" or "discharged through bankruptcy".
The statute of limitations for reporting information about a bankruptcy is ten years from the date it was filed. You did not mention the filing date, so the very late date your bankruptcy should show on your credit report would be September of 2006.
{| |- | AnswerSome things like filing for a bankruptcy never come off easily from your credit report as such an incident is considered as you are not able to manage your finances and lenders later see this as a risk.|}
Discharge. Although it is actually avail for anyone wanting to look further, and as a matter of federal court records, for longer.
of course it will, BKs are on a credit report for 10 years
Do not worry about applying for credit after bankruptcy. The applications will come to you before the ink on the court documents has dried.
Bankruptcy should be expunged from the credit report after the ten year from the BK discharge has expired. Credit bureaus are not as efficient or accurate as one would hope, therefore it may be necessary for the consumer to contact the CRA and request the entry be removed, be prepared to submit substantiating documentation. Consumer's should keep in mind that it is wise to monitor their credit history reportage on a regular basis.
No the bankruptcy will not show on your credit history unless you filed as well. However, now the mortgage company has the right to come after you in full for the amount owed, since the Court has released him from all obligations.
No. The timing with which a bankruptcy is removed from a credit report has nothing to do with re-established credit - only time. Section 605(1) of the Fair Credit Reporting Act states that no consumer reporting agency may make any consumer report containing "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." Pursuant to 11 U.S.C. 301,