Comments on: When a person declared bankrupt, how long is the record stays with the creditors? http://creditquestions.org/credit/when-a-person-declared-bankrupt-how-long-is-the-record-stays-with-the-creditors Answers to all your questions about credit. Thu, 09 Sep 2010 14:03:46 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Studly http://creditquestions.org/credit/when-a-person-declared-bankrupt-how-long-is-the-record-stays-with-the-creditors/comment-page-1#comment-612 Studly Sat, 10 Jan 2009 22:09:57 +0000 http://creditquestions.org/credit/when-a-person-declared-bankrupt-how-long-is-the-record-stays-with-the-creditors#comment-612 By law (Fair Credit Reporting Act), Bankruptcy stays on your credit report for 7 years (10 if it's a Chapter 7). There are no laws governing how long your creditor can keep the records. But I will bet if you screwed a creditor, he's not about to ever forget you! By law (Fair Credit Reporting Act), Bankruptcy stays on your credit report for 7 years (10 if it’s a Chapter 7).

There are no laws governing how long your creditor can keep the records. But I will bet if you screwed a creditor, he’s not about to ever forget you!

]]> By: amanda b http://creditquestions.org/credit/when-a-person-declared-bankrupt-how-long-is-the-record-stays-with-the-creditors/comment-page-1#comment-611 amanda b Fri, 09 Jan 2009 06:52:38 +0000 http://creditquestions.org/credit/when-a-person-declared-bankrupt-how-long-is-the-record-stays-with-the-creditors#comment-611 7 years. But their are ways to start rebuilding now.Save up 1000 dollars (and start investing even 20 dollars into an RRSP.) get a prepaid capital 1 mastercard who have 0% monthly interst fees. This way if you are responsible and the credit card company never has to use the 1000 dollars to pay off your missed payments you can easily rebuild your credit. But if you fail to make payments on time and they do end up using all of your money to pay your outstanding balances....then you are gonna be screwed for 7 years 7 years. But their are ways to start rebuilding now.Save up 1000 dollars (and start investing even 20 dollars into an RRSP.) get a prepaid capital 1 mastercard who have 0% monthly interst fees. This way if you are responsible and the credit card company never has to use the 1000 dollars to pay off your missed payments you can easily rebuild your credit. But if you fail to make payments on time and they do end up using all of your money to pay your outstanding balances….then you are gonna be screwed for 7 years

]]> By: fairway_finance http://creditquestions.org/credit/when-a-person-declared-bankrupt-how-long-is-the-record-stays-with-the-creditors/comment-page-1#comment-610 fairway_finance Tue, 06 Jan 2009 07:59:52 +0000 http://creditquestions.org/credit/when-a-person-declared-bankrupt-how-long-is-the-record-stays-with-the-creditors#comment-610 Listen ver closely. I have had BK items removed one month after bankruptcy. Some items will remian for 7-10 years. Here is what happens.. Lets say Credit Company A made a loan with you in 2004. You BK'd in 2005. In 2006 Credit Company C buys credit company A, and all their accounts. Do they even bother with accounts that were BK'd? NO. So, you dispute, item is removed. Now, that happens alot, but I wouldnt wait for that to happen. Here is what you do, with MOST BK cases, someone moves, so.. You dispute the adress that was used for that credit card or whatever, for the billing. The address gets removed. Now, dispute whatever accounts you had in the BK that were mailed to the now missing address. The info doesnt verify out, and it gets removed. It may take several attempts, and dispute it for different reasons , online, if you can. Within a couple months they will remove it, if not right away. Listen ver closely.

I have had BK items removed one month after bankruptcy. Some items will remian for 7-10 years. Here is what happens..

Lets say Credit Company A made a loan with you in 2004. You BK’d in 2005.

In 2006 Credit Company C buys credit company A, and all their accounts. Do they even bother with accounts that were BK’d? NO.

So, you dispute, item is removed.

Now, that happens alot, but I wouldnt wait for that to happen. Here is what you do, with MOST BK cases, someone moves, so..

You dispute the adress that was used for that credit card or whatever, for the billing. The address gets removed.

Now, dispute whatever accounts you had in the BK that were mailed to the now missing address. The info doesnt verify out, and it gets removed.

It may take several attempts, and dispute it for different reasons , online, if you can. Within a couple months they will remove it, if not right away.

]]> By: dcox_gotoguy http://creditquestions.org/credit/when-a-person-declared-bankrupt-how-long-is-the-record-stays-with-the-creditors/comment-page-1#comment-609 dcox_gotoguy Thu, 01 Jan 2009 21:10:38 +0000 http://creditquestions.org/credit/when-a-person-declared-bankrupt-how-long-is-the-record-stays-with-the-creditors#comment-609 I believe the 7 years is from the date of the last activity so if you opened an account in 2001 but paid on it until 2005, then the 7 years would run from 2005 forward. You can contact the credit buearus for more info. Equifax P.O. Box 740241 Atlanta, GA 30374-0241 (800) 685-1111. Experian P.O. Box 2104 Allen, TX 75013 (888) EXPERIAN (888-397-3742). Trans Union P.O. Box 1000 Chester, PA 19022 (800) 916-8800. I believe the 7 years is from the date of the last activity so if you opened an account in 2001 but paid on it until 2005, then the 7 years would run from 2005 forward. You can contact the credit buearus for more info.

Equifax
P.O. Box 740241
Atlanta, GA 30374-0241
(800) 685-1111.

Experian
P.O. Box 2104
Allen, TX 75013
(888) EXPERIAN (888-397-3742).

Trans Union
P.O. Box 1000
Chester, PA 19022
(800) 916-8800.

]]> By: badboyimage2002 http://creditquestions.org/credit/when-a-person-declared-bankrupt-how-long-is-the-record-stays-with-the-creditors/comment-page-1#comment-608 badboyimage2002 Thu, 01 Jan 2009 05:32:16 +0000 http://creditquestions.org/credit/when-a-person-declared-bankrupt-how-long-is-the-record-stays-with-the-creditors#comment-608 8-10 years. Take it from someone who has been there. Unlike the last answer, Statute of limitations only apply to criminal offenses. 8-10 years. Take it from someone who has been there. Unlike the last answer, Statute of limitations only apply to criminal offenses.

]]> By: AXE http://creditquestions.org/credit/when-a-person-declared-bankrupt-how-long-is-the-record-stays-with-the-creditors/comment-page-1#comment-607 AXE Tue, 30 Dec 2008 11:31:51 +0000 http://creditquestions.org/credit/when-a-person-declared-bankrupt-how-long-is-the-record-stays-with-the-creditors#comment-607 The bankruptcy stays with the credit bureaus for seven years. With your creditors it stays for 7 years or longer. The bankruptcy stays with the credit bureaus for seven years. With your creditors it stays for 7 years or longer.

]]> By: michaelblivingston http://creditquestions.org/credit/when-a-person-declared-bankrupt-how-long-is-the-record-stays-with-the-creditors/comment-page-1#comment-606 michaelblivingston Mon, 29 Dec 2008 06:14:26 +0000 http://creditquestions.org/credit/when-a-person-declared-bankrupt-how-long-is-the-record-stays-with-the-creditors#comment-606 Statute of Limitations on most things is 7 years. Bankrupcy will remain on your record for that length of time. Now if your saying will it stay with an individual creditor that you have now.....they will have records that do not meet statute standards....they could keep those records as long as they want. Statute of Limitations on most things is 7 years. Bankrupcy will remain on your record for that length of time. Now if your saying will it stay with an individual creditor that you have now…..they will have records that do not meet statute standards….they could keep those records as long as they want.

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