[john]

I am not contradicting your point but accurate negative information like bankruptcy, foreclosure, repossession, judgments cannot be removed from your file before the 7 years period as per the FCRA laws.

The items that have been reported by your creditors incorrectly must be removed from your file as it does not have a legitimate reason to stay. To verify the details of the account from the creditors, send a DV letter and if they fail to respond, it should be disputed with the CRA. They will run an investigation and if your dispute is found correct, the item which was posted incorrectly will be removed from your file.

[Poohbear24]

I have already responded to this in an other forum. But to sum that up, I understand what you are saying, but unless you've filed and have gone through this process you will interpret the law the way you see fit because it doesn't (not sure if you have filed) or hasn't affected you like it has done me.

Also, you can't speak of the things that have been deleted because you are just assuming that they were removed for the reason that supports your argument. I have to differ because I have seen my reports and the items that have been deleted. Not meant to offend you at all, but it's very difficult to speak on it if your situation is different or dissimilar to mine. I can only speak of what I've gone through, and I can honestly say the deletion process has worked for me, and they were not all old accounts.

To whom it may concern,
About 2 years ago, my chapter 13 was dismissed. How can I get a dismissed chapter 13 off my credti??
Thanks,
Ms.Yolandra

[WHEREAMI?]

If a Chapter 13 was dismissed that is not a good thing. Do you mean your Chapter 13 was discharged? Because having it discharged is what happens when you successfully complete the plan. If you have been dismissed that means the creditors can come after you full payment and all interest accrued during the time you were in your chapter 13 plan. If you were actually discharged then you need to look at your credit report and dispute anything that still shows to have the items updated, a bankruptcy can stay on your report for up to 10 years.

Hope this helps.

Actually, it is possible to get a BK negative mark removed from your acct.
You have to get your reports, you do a report gathering to file BK-KEEP A COPY OF IT.
POST BK, any acct that does not show IIB (included in Bankruptcy) should be disputed with Original creditor. Here is where the deletion occurs, rather than them waste their time and energy on verifing information, they delete the entire acct from your report. Also OC's like to update acct status after your bankruptcy as charged off/paid rather than IIB. You will at that point notify OC that they are reporting wrong and chances are, that acct will be deleted.

It takes alot of time and effort in cleaning up your reports, but it can be done.

One other thing, if you are losing everything in your bankruptcy, then YES, you will have HIGH interest rates. If you are reaffirming debt, then you will not have high interest rates two years post BK, because you already have a good, two year payment history of on time payments.

KEY WORD HERE: on time payments!!!

[ladybug]

We filed bk three years ago (chapter 7), lots of medical bills and bad business decisions. However we refinanced our home in February of 2006, filed bk in 2003 that year we have since received regular credit cards not subprime ones, got a car loan through my credit at 5.4% interest rate. I think that it depends on what your fico scores were when you initially filed bk..our mortgage broker told us that we would be considered A paper within 6 mos of that date and then bought an investment property.

So unfortunately it is bad when you have no choice but to file for bk at least it gives you a fresh start. It is just too bad it doesn't cure the illness that made you have to do it in the beginning.

ladybug

[Morningstar]

I've got to agree with that. I know a person who filed BK 7 a year--they were approved for a CapOne card with a $3000 limit with an interest rate below 20%. The same person, however, was denied a store card due to the BK.

[good.nelly]

Bankruptcy do eases your strains a bit. You do not have to deal with the creditors anymore, you do not have to screen your answering machine nor you have to read those nasty mails. Bankruptcy though gives you a "fresh" financial start by wiping nearly all your debts. But one can not use bankruptcy to avoid responsibilities. One should try their best to restore credit after bankruptcy.

[kfyu26]

People often get to a place where they simply cant pay their bills, especially in todays economy which is not particularly sympathetic toward the poor or even the middle class. Inflation has impacted nearly every facet of daily life including food, gas, rent, clothes, utility bills and more. At the same time, salaries, especially in the lower ranges, have utterly failed to keep pace. When you get to the place where you cannot pay your bills and have money left over for food and other necessities, there are some hard decisions that have to be faced. The options are credit counseling and debt management services, or bankruptcy. Both have their pros and cons, so which road to take depends largely on the individual and how severe his or her financial problems have grown.……

Link deleted as per forum rules - Mike

My BK is about to come off my credit report. Does anyone know ABOUT how many points my score will go up?

[SUEBEEHONEY70]

Jen75 - that will depend on your credit outside of your BK. If you have tried to keep everything paid on time since your filing, your credit will look pretty good after the BK comes off.

chapter 7 stays on for 10 years, chapter 13 for only 7.

and having just filed, and taken the now required credit counseling course...

paying your bills on time won't help your credit, credit reports only contain credit card and loan payments made on time, neither of which you will have once you file bankruptcy... sign up with a Payment Reporting Builds Credit website if you want paying your bills on time to help your credit, like insurance, and utilities, it won't go on your credit report but rather it is its own report which you can use with new creditors to show your payment history.

ANYTHING (other than bankrupcty) older than 7 years MUST be removed from your credit report via federal law!!!

we also tried to go through them the year before we filed, but had the same problem as the one person stated earlier.

Our purposed plan monthly payment actually tripled (ended up being $800 a month) since not ONE of our creditors would accept the purposed plan.... NOT ONE. The credit management place couldn't get the creditors to LOWER our INTEREST RATES or our BALANCE DUE like they advertise.

Many of the creditors also refused to change the due dates of the cards, so the payments made through the debt management people were LATE EVERY MONTH! Continuing to accumulate over-the-limit-fees and late-fees.

IT WAS A DISASTER and we actually went through a very reputable company, but that doesn't mean diddly if the creditors won't cooperate. (and going into this we weren't behind on any of our credit cards)

So good luck to anyone trying to do the best thing and go through them.

[alias1958]

Actually, it is possible to still have loan payments after filing BK. We just filed Chapter 7, and once it is discharged, we will still have a first and a second mortgage. I know that it is also possible to still have a car payment after filing. As long as your equity in the property does not exceed your allowable exemptions and you are allowed to keep the property, and you continue to make the payments, those debts still remain after BK because they are secured.

If you file a chapter 7 it will be on your report 10 years, it use to be 7. If you file a chapter 13 and complete it, it will be on your report 7 years. If you do not complete it, it will be on your report for 10 years.

My bankruptcy end date is next month (Sept 08). Will it automatically go off my credit reports or do I need to contact someone and have it taken off? Thanks