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Maverick
Maverick, Attorney
Category: Bankruptcy Law
Satisfied Customers: 3523
Experience:  Bankruptcy Law With An Accounting Degree - 13 + years as civil lawyer
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How long will a dismissed chapter 13 stay on my credit

Resolved Question:

How long will a dismissed chapter 13 stay on my credit?
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  Maverick replied 4 years ago.

Seven (7) years for a dismissed chapter 13.

 

 

I know this is probably not what you wanted to hear, but I am assuming that you are paying for an honest and professional opinion.

 

Please click "Accept" so that I can get credit for this answer. We can continue our conversation after that at no additional charge. Thank you.

 

This information is provided so you may better discuss legal issues with your attorney. Consult a local attorney for legal advice before acting. You may be able to find an attorney in your area to further assist you at http://www.martindale.com/ or at http://www.lawyers.com/ .

Expert:  Terry L. replied 4 years ago.
Hi and thank you for your question. In the future, you can request me to answer any further questions. Bankruptcy cases actually stay on your credit report for 10 years, not 7.
Customer: replied 4 years ago.
One of you said 7 years and one said 10, so which answer is correct. I filed in 2001, and it was dismissed in 2003. Two credit companies took it off after 7years and one still has it on report!!!!!!!!
Expert:  Terry L. replied 4 years ago.
It is 10 years from the date you filed.
Here is the link to the FTC regarding reporting negative items on your credit report.
http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre34.shtm
Customer: replied 4 years ago.
I read that info before and it also states that the state law may be different. Another link for the law said 7 years but also depends on the state. I put in that it was FLORIDA, do you know the laws there ?????
Expert:  Terry L. replied 4 years ago.
Bankruptcy and credit reporting are federal. State exemptions apply and state caselaw interprets the bankruptcy code, but reporting to credit reports is federal...(so say if you move out of state, the credit bureaus don't have to add or take off a bankruptcy for instance in the 8th year).
Customer: replied 4 years ago.
Why would I give you credit for answering when all you are doing is running me around in circles. I CAN READ, and the federal law said the state law could decide the amount of time it is reported on my credit, so where is the state law governing this??? If you do not know, please do not try to make it sound like you do.
Expert:  Terry L. replied 4 years ago.
Where are you reading from? I can review and let you know.
Expert:  Maverick replied 4 years ago.

This is Maverick. The first lawyer that answered your question. You asked about a "dismissed" chapter 13 as opposed to a "discharged" one. That may account for the difference. I still stand by my answer.

Customer: replied 4 years ago.
Relist: Incomplete answer.
Tried to reply to first answer, but site will not let me. Your site is not user friendly
Expert:  Terry L. replied 4 years ago.
further verification for you:
Fair debt reporting act:

§ 605. Requirements relating to information contained in consumer reports [15 U.S.C. §1681c]

(a) Information excluded from consumer reports. 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.
Customer: replied 4 years ago.
Someone who actually knows what they are doing needs to answer my question........
Expert:  Terry L. replied 4 years ago.
I'm opting out. Obviously, you do not accept the US Code as law and fact. I have cited you the US Code for the fair credit reporting act which governs credit reporting, and have cited the federal trade commission which confirms that information. Good luck.
Expert:  Maverick replied 4 years ago.
I have opted out as well. Good luck.
Customer: replied 4 years ago.
??????? You were the one I wanted to talk to, don't know why he kept getting it. I just wanted to know where I may be able to verify your answer. TY
Expert:  Maverick replied 4 years ago.

The other expert is technically correct in stating that the FCRA provides for 10 yrs. However, in practice most creditors remove it after 7 years to encourage people to file chapter 13 repayment cases instead of chapter 7 liquidations.

 

 

Maverick, Attorney
Category: Bankruptcy Law
Satisfied Customers: 3523
Experience: Bankruptcy Law With An Accounting Degree - 13 + years as civil lawyer
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