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Information Regarding Bankruptcy Appearing on Credit Report - The Bills.com Blog
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Information Regarding Bankruptcy Appearing on Credit Report
Question: Hi-I'm wondering when bankruptcy will come off my credit report? What date do I determine this by? The papers I have show a discharge date of Jan 1999.
Answer: Generally speaking, a discharged bankruptcy will appear on your credit report for ten years from the date of the discharge. This ten year rule applies to both consumer bankruptcy chapters – Chapter 7 and Chapter 13 – ifthe debts were discharged. However, a dismissed Chapter 7 case will appear on a consumer’s credit report for ten years, while a dismissed Chapter 13 should appear for only seven years. In your case, since your case was discharged, it does not really matter which chapter you filed, as the same ten year rule applies to both. Since your case was discharged in January, 1999, you should expect the public record data relating to this account to be removed from your credit report
sometime in early 2009. To learn more about bankruptcy, you should visit the Bills.com Bankruptcy information page.
If this item is still appearing on your credit report after ten years, you may wish to consider disputing the listing with the three major credit bureaus–Equifax, Experian, and TransUnion. The Federal Trade Commission offers a free guide
to disputing erroneous credit report listings. In addition, if you would like to learn more about credit, credit scoring, and credit report, I invite you to visit the Bills.com Credit Resources page.
I wish you the best of luck in your financial endeavors, and hope that the information I have provided helps you Find. Learn. Save.
Best,
Bill
www.bills.com/blog/
Also, make sure to get a free financial health check-up with Bills IQ!
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