How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask socrateaser Your Own Question
socrateaser, Attorney
Category: Bankruptcy Law
Satisfied Customers: 37809
Experience:  Attorney and Real Estate Broker -- Retired (mostly)
Type Your Bankruptcy Law Question Here...
socrateaser is online now
A new question is answered every 9 seconds

when will a bankruptcy filed 8/1999 be removed from my credit

This answer was rated:

when will a bankruptcy filed 8/1999 be removed from my credit reort?

The date is 10 years from the date of entry of the discharge (adjudication or order of relief) by the bankruptcy court -- not from the date of filing for bankruptcy protection.


Source: Title 15 U.S.C. §1681c



Customer: replied 7 years ago.
Relist: I still need help.
Does this mean that the reporting should clear the three credit bureaus in 12 of 2008?

If your BK discharge was in 11/98, then the entry should be deleted in 12/98.



Customer: replied 7 years ago.
I will accept you answer and increase my payout after one last question. Section 605 of the fair credit reporting act states that the negative entry should not be reported 10 years past the discharge date, in my case, 12/1999. Since the listing first appeared in 08/1999, how many years have potential creditors seen a bankruptcy listing on my credit report? I contend that they have seen it for 10 years since the filing and report date and that they will have seen it 10 years 4 months, since inception, come 12/2008. To contend that there must be a full 10 year penalty phase ending circa 07/2009 is to have allowed creditors to view the negative rating through 11 calendar years; does that not violate 605 of the FCRA?

§ 605(b). Except as authorized under subsection (b) of this section, no consumer reporting agency may make any consumer report containing any of the following items of information: (1) 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.

The above text means that the bankruptcy discharge date can be no more than 10 years prior to the date of the current credit report. It doesn't prevent the credit reporting agency from posting a bankruptcy filing prior to the discharge order.

So, the only meaningful calculation is subtracting the date of discharge order from the current credit report date. If more than 10 years intervenes, then you have a case. Otherwise, you don't.

Note, that the maximum recovery under the Act is $1,000 -- the minimum is $100. And, that is for "willful" non-compliance. For negligent non-compliance, only actual damages may be recovered -- plus attorney's fees in both of the above cases.

Proving willful non-compliance, i.e., that the failure to remove the entry was "intentional," is not easy to prove. So, you may be stuck with actual damages -- which could be nothing at all. Your attorney won't be bothered in either case -- but you may be.

Terms and Conditions: By your continuing in this conversation with me, or by your clicking "Accept", you are expressly agreeing to all of the following: (1) our communication is for entertainment purposes only; (2) you are not consulting me in my professional capacity as an attorney; (3) you do not seek to establish an attorney-client relationship with me, nor do I with you; (4) you will not rely on anything I say and you will obtain appropriate legal counsel via a traditional/office consultation with an attorney licensed to practice in the jurisdiction where your legal issue arises (and you may not use our communication to avoid taxpayer penalties imposed by the U.S. Dept. of Treasury); (5) by communicating with me in this public forum you are irrevocably waiving any right to privacy, confidentiality and attorney-client privilege concerning the matters discussed. You further separately declare that any payment made by you is not consideration for this contract, nor offered for any services rendered by me on your behalf, but rather is made in genuine admiration and respect for my desire to help others. If you do not agree with these terms and conditions, then you must advise me immediately.

socrateaser and 5 other Bankruptcy Law Specialists are ready to help you

Related Bankruptcy Law Questions