Shouldn’t my bankruptcy be removed from my credit report after 7 years?
Jun, 2010 in Build Your CreditMy bankruptcy was filed and discharged in August of 2002. I was told it would stay on my credit report for 7 years, ending August of 2009, but it is still on there today in Feb 2010.
Does anyone have any advice as to how I can get it removed and who I need to talk to for this?
I think it depends on which kind you filed. There is chapter 7 and chapter 11 I think
The answer that refers to Chapter 11 is wrong; Chapter 11 is a corporate bankruptcy, not a personal bankruptcy. The two types of personal bankruptcy are Chapter 7 and Chapter 13. A Chapter 7 bankruptcy is not removed from your credit report after 7 years; it remains for 10 years.
Bankruptcies stay on your credit for 7-10 years, depending on your state. I would first Google your state’s statutes regarding the duration.
If it’s 7 years, then you need to send a copy of your discharge papers to all 4 major credit bureaus requesting that the BK be deleted. Be sure to include your full name, current address, and your social seurity number.
Do not call them, but send a certified letter with a return receipt. The credit bureaus report on over 250 million americans, so it’s easy for your letter to get lost in the shuffle if you don’t send it certified.
Per the Fair Credit Reporting Act (FCRA), a bankruptcy will be reported for 10 years from the date of your filing.
http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre34.shtm
Bankruptcies can stay on your credit report for 7 to 10 years. At that point they are supposed to come off, but sometimes won’t unless the credit bureaus are notified.
You can always start a dispute on your credit report, by sending dispute letters to each of the credit bureaus asking for verification on the bankruptcy. Under the Fair Credit Reporting Act (FCRA), the credit bureaus have 30 days to verify the bankruptcy or it must be removed from your credit report.
The longer you have had a bankruptcy the better chance of it falling off, so at 7 years, your odds are pretty good. Good luck.