they say there is a new law it is 5 years know. Is it true.
2006-07-15 11:37:04 · 3 answers · asked by madelein c 1 in Politics & Government ➔ Law & Ethics
Seven years is still the time limit. Consider credit records as the standard example for how long negative reports can still remain and be reported.
2006-07-16 10:27:14 · answer #1 · answered by Dawk 7 · 36⤊ 0⤋
Federal law allows a bankruptcy to stay on your credit rating for up to 10 years. However, you can still take steps to rebuild your credit. Check out the article below.
2006-07-15 20:20:44 · answer #2 · answered by Carl 7 · 0⤊ 0⤋
I guess we'll have to look into it. The last time I looked, it was seven years...and they were thinking about changing it to ten (Bummer). I hope it is true (what you heard)...'cause five years is about the right amount of time to get yourself straightened back out again. Good luck to you.
2006-07-15 18:42:18 · answer #3 · answered by riverhawthorne 5 · 0⤊ 0⤋