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 cfortunato Your Own Question
cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
14232603
Type Your Bankruptcy Law Question Here...
cfortunato is online now
A new question is answered every 9 seconds

Bankruptcy & Credit Report Question. Filed for a BK#7 on Oct.

This answer was rated:

Bankruptcy & Credit Report Question. Filed for a BK#7 on Oct. 29, 2010 in Wisconsin. Discharged Feb 3, 2011. Looking over my credit report. Some of the credit items included in the BK show as "Debt included in Chapter 7 Bankruptcy on Feb 03, 2011" Some show "Debt included in Chapter7 Bankruptcy on Oct 29, 2010. This impacts when it will come off my credit and the age of the negative item. HOW SHOULD IT BE REPORTED? HOW LONG WILL IT STAY ON MY REPORT? Since one of them is reporting it wrong, any advice on how to dispute it and get it to be reported correctly or deleted?
Hi JACustomer,
By federal law (the Fair Debt Reporting Act), a Bankruptcy - and anything pertaining to that Bankruptcy -can remain on one's credit report for 10 years after the date the Bankruptcy was discharged. This means the October date is correct.

I think this is what you wanted to know. If not, please let me know.
Thank you.
Customer: replied 4 years ago.
the bankruptcy was filed on Oct 29, 2010. Discharge Feb 3, 2011. The CRA's are reporting that for a specific credit line, that account will stay on my report until Aug, 2015 or Nov, 2015, depending upon which credit line. that is roughly 5 years. So, if they have the right to report it for 10 years, I should just let it go and be happy? Some credit lines reference being included in the bankruptcy on Oct, 2010, and some reference the bankruptcy on Feb, 2011. I am trying to improve my credit score after the BK, so I am looking for any advantage I can find.
Yes - you are ahead, as the Bankruptcy-related information can remain on your credit report until February 2021(not October 2020).
cfortunato and 4 other Bankruptcy Law Specialists are ready to help you
Yes - you are ahead, as the Bankruptcy-related information can remain on your credit report until February 2021(not October 2020).

Related Bankruptcy Law Questions