2007-03-11 05:05:33 · 8 answers · asked by lilricanmami808 1 in Business & Finance ➔ Credit
If you filed Chapter 13 bankruptcy, it only affects you for 7 years. If you filed Chapter 7 bankruptcy, it affects you for 10 years. If you are asking if your credit score will automatically be golden in 7 years, it won't... some states limit how long negative information can stay on your report (and it's shorter than the national law).
Do what you can to improve your score in the present and the negative impact will lessen as it's further in the past.
2007-03-11 06:13:09 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Bad credit is one of the worst problems to have... however there exists a solution.
I will hereby talk from my personal experience.
I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :
http://umgarticles.atspace.com/debt-consolidation.htm
if it helps kindly remember me in your voting!.. cheers!
2007-03-12 09:58:04 · answer #2 · answered by gabriel jones 4 · 0⤊ 0⤋
Each state has a different statue of limitations.
Even if you credit would be erased, there are those who have been screwed out of something and they will remember. I keep track of ALL who have wronged me/us and they will NEVER get service from us again and we share these names with other businesses so too don't have to get screwed over.
All in all... what you do comes back to you. Be a good person and life is grand... be a dipshit and many will remind you for the rest of your life!
aaaaaaaaaaaagh life is fair AND good !!
: )
Happy Sunday !
2007-03-11 13:38:54 · answer #3 · answered by Kitty 6 · 0⤊ 0⤋
Any negative credit remains on your report for 7 yrs. Bankruptcy stays on for 10 yrs. If you request your report from any of the three reporting agencies and find something that is not true or not yours, you can file a dispute and they will investigate. If found to be true they will not remove it.
2007-03-11 12:44:15 · answer #4 · answered by JDZA 2 · 1⤊ 0⤋
This has to do with the bankruptcy law. One can only file a Chapter 7 BK after seven years from the last one. But, I believe that said filing can stay in your credit report for 10 years, after which is has to be expunged. It could be seven years for that, though, I don't remember perfectly, and the law has changed a lot since I practiced it.
2007-03-11 12:15:08 · answer #5 · answered by DinDjinn 7 · 0⤊ 2⤋
I am just repeating what everyone else is saying, but hey, I will take the 2 points for answering.
Yes, 7 years of collections and late payments to fall off.
2007-03-11 14:28:06 · answer #6 · answered by donkeyoftheday 3 · 0⤊ 0⤋
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2007-03-11 13:21:04 · answer #7 · answered by Anonymous · 0⤊ 0⤋
yes it is true good luck
2007-03-11 14:09:52 · answer #8 · answered by pattibcacl 6 · 0⤊ 0⤋