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How long will a dismissed chapter 13 stay on my credit

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How long will a dismissed chapter 13 stay on my credit ?
Submitted: 7 years ago.Category: Bankruptcy Law
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Answered in 2 minutes by:
9/14/2010
Bankruptcy Lawyer: Maverick, Attorney replied 7 years ago
Maverick
Maverick, Attorney
Category: Bankruptcy Law
Satisfied Customers: 6,426
Experience: 20 years of professional experience
Verified

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/ .

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Bankruptcy Lawyer: Terry L., Attorney replied 7 years ago
Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2,914
Experience: Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
Verified
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.
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Customer reply replied 7 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!!!!!!!!
Bankruptcy Lawyer: Terry L., Attorney replied 7 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
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Customer reply replied 7 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 ?????
Bankruptcy Lawyer: Terry L., Attorney replied 7 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).
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Customer reply replied 7 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.
Bankruptcy Lawyer: Terry L., Attorney replied 7 years ago
Where are you reading from? I can review and let you know.
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Bankruptcy Lawyer: Maverick, Attorney replied 7 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.

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Customer reply replied 7 years ago
Relist: Incomplete answer.
Tried to reply to first answer, but site will not let me. Your site is not user friendly
Bankruptcy Lawyer: Terry L., Attorney replied 7 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.
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Customer reply replied 7 years ago
Someone who actually knows what they are doing needs to answer my question........
Bankruptcy Lawyer: Terry L., Attorney replied 7 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.
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Bankruptcy Lawyer: Maverick, Attorney replied 7 years ago
I have opted out as well. Good luck.
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Customer reply replied 7 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
Bankruptcy Lawyer: Maverick, Attorney replied 7 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
Maverick, Attorney
Category: Bankruptcy Law
Satisfied Customers: 6,426
Experience: 20 years of professional experience
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