2007-03-19 15:42:08 · 7 answers · asked by Anonymous in Business & Finance ➔ Credit
yes, after 10 years you can have it removed from your credit reports. After the first couple years, it has less significance. The more responsible you are, the easier it will be to rebuild your credit.
Just dont make the same mistake twice. IT is said that 50% of people who file once, will file again.
2007-03-19 15:46:50 · answer #1 · answered by Kris 3 · 0⤊ 0⤋
According to the Fair Credit Reporting Act, if the bankruptcy is reported to the credit bureaus, they may report it for up to 10 years. They are not REQUIRED to, but they may if they so choose. They will so choose because they need more information on you to be able to sell to everybody who is willing to pay as little as a dime (yes, a DIME) for your information. Remember, they don't care about how they are going to affect your life, they don't care that you may have learned from your mistakes. They ONLY care about making money by selling your information.
As stated above, it is possible to have the bankruptcy removed from your credit report through the dispute process. However, it is not as easy as the person makes it out to be. If you dispute an item and it is not removed and you dispute it again, the credit bureaus are likely to label your dispute as frivolous. Once you have one line item tagged as frivolous, the credit bureaus are likely to consider ALL of your disputes such and you will not be successful in having any information removed from your report. This is why I recommend having a professional do the work for you. They can take the necessary time to figure out which of the 340 laws in the FCRA apply to your situation to have the information removed permanently.
If you have any questions regarding your credit issues, you may email me at nebula7693@yahoo.com
2007-03-19 18:01:35 · answer #2 · answered by nebula7693 4 · 0⤊ 0⤋
I will tell you how to remove it , here is a secret after 2 years your BK papers go to a big trashcan in the back of the court house . If you dispute it and say it is inaccurate 1% chance they will send someone back there to pull the file , been there done it . Again if for some reason it dont work try it again and again . By law all disputes no matter how many times you submit have to be followed up on . once removed can never come back .
2007-03-19 15:49:49 · answer #3 · answered by Anonymous · 0⤊ 2⤋
Yes, but for many years it will keep you from getting any new credid cards, loans of any type or from being able to buy a house. If you haven't filed yet, think hard about it. Do you really want to not be able to get credit anywhere for lots of years?? This would mean you had to pay cash for everything for a long time. Think about it.
2007-03-19 15:48:30 · answer #4 · answered by JR 5 · 0⤊ 0⤋
Yes, but it takes 10 years.
2007-03-19 15:55:20 · answer #5 · answered by Mariposa 7 · 1⤊ 0⤋
it removes a decade after it happend.. but depending on how much you owe.. i really suggest you try everything to avoid bankruptcy. try reall hard.. cuz those 10 years would suck.. possibly.. just try to pay off your stuff. (if u have n e)
2007-03-19 18:59:13 · answer #6 · answered by Anonymous · 0⤊ 0⤋
yes.
2007-03-19 15:45:28 · answer #7 · answered by Anonymous · 1⤊ 0⤋