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How long can creditors report "included in bankruptcy" tradelines?

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  • How long can creditors report "included in bankruptcy" tradelines?

    How long can furnishers of credit report "included in bankruptcy","discharged in bankruptcy" or similar tradelines for pre-petition debt SEPARATELY from the bankruptcy itself to the credit bureaus? I filed Chapter 7 on 5/18/10,discharged on 8/18/10 and closed on 9/2/10?

  • #2
    Up to 10 years from the date of filing, but individual tradelines may fall off at the 7 year mark.

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    • #3
      Originally posted by BubbaJoeBob View Post
      Up to 10 years from the date of filing, but individual tradelines may fall off at the 7 year mark.
      This is not quite correct. Negative tradelines, including those marked IIB will fall off 7 years from the first deliquency. The bk public record, will fall off ten years from the filing date.
      You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

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      • #4
        Please work on your reading comprhension skills. Thank you.

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        • #5
          Originally posted by BubbaJoeBob View Post
          Please work on your reading comprhension skills. Thank you.
          Actually, he's correcting your previous statement. There was no issue with comprehension.

          Any negative info regarding an account will be removed 7 years from the first delinquency--that includes the IIB notation.

          So if the first late payment to CapOne for example was in 1/10 and then you filed Ch7 in 10/10, the IIB notation would be removed in 1/17 NOT 10/17.
          Don
          Filed Pro Se on 8/4/11 (No Asset, Chapter 7)
          Redeemed Automobile ProSe (722 Redemption),Discharged on 11/3/11

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          • #6
            Let me see if I'm comprehending... so if I start missing payments a few months (or even several months) before my bk, my credit will actually get better faster on the other side of the discharge?
            There are two secrets for success in life:
            1.) Never tell everything you know.

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            • #7
              Originally posted by debee View Post
              Let me see if I'm comprehending... so if I start missing payments a few months (or even several months) before my bk, my credit will actually get better faster on the other side of the discharge?
              Yes, but a Chapter 7 BK will still linger through year 10. I was very lucky, as I filed Chapter 13 in 2008, but converted in 2010. My Chapter 7 shows as filed in 2008! I only have 8 years to go, instead of 10!
              Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
              Status: (Auto) Discharged and Closed! 5/10
              Visit My BKForum Blog: justbroke's Blog


              I am not an attorney. Any advice provided is not legal advice.

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              • #8
                Originally posted by BubbaJoeBob View Post
                Please work on your reading comprhension skills. Thank you.

                I comprehended your statement. I was correcting the errors in it as doni49 so kindly pointed out.
                Last edited by backtoschool; 10-14-2010, 11:03 PM.
                You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

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                • #9
                  Originally posted by debee View Post
                  Let me see if I'm comprehending... so if I start missing payments a few months (or even several months) before my bk, my credit will actually get better faster on the other side of the discharge?
                  Yes, that is ironically true.
                  You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

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                  • #10
                    According to my credit reports, all the negative items are scheduled to fall off seven years from the date of first delinquency. Since I waited about 4 years to file BK after my credit went bad, most of my stuff is scheduled to fall off next year. A lot of it has already fallen off or been removed. HTH.
                    Filed Ch. 7 Pro Se: 12/11/08
                    341 Meeting: 1/7/09
                    Trustee's Report of No Distribution: 1/9/09
                    Discharged: 3/10/09

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                    • #11
                      Crazy good news about the credit report. I will really enjoy ruining mine a lot more now.
                      There are two secrets for success in life:
                      1.) Never tell everything you know.

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                      • #12
                        Thanks for all the replies. Now my other credit reporting problem. I filed Chapter 7 5/18/10 ,discharged 8/18/10 and I have some creditors reporting in their detail entries charge-off in July 2010,30 days late in July 2010 and similar stuff. I'm assuming reporting anything negative with a date later than 5/18/10 is a violation of the bankruptcy code. Is it a violation by the creditor,the cra or both? I'm trying to have these illegal entries removed.

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                        • #13
                          Originally posted by ben1381 View Post
                          Thanks for all the replies. Now my other credit reporting problem. I filed Chapter 7 5/18/10 ,discharged 8/18/10 and I have some creditors reporting in their detail entries charge-off in July 2010,30 days late in July 2010 and similar stuff. I'm assuming reporting anything negative with a date later than 5/18/10 is a violation of the bankruptcy code. Is it a violation by the creditor,the cra or both? I'm trying to have these illegal entries removed.
                          Creditors can report lates and charge offs up to the month of filing. Anything after that should be reported as included in bankruptcy. A lot of creditors do not start reporting things as included in bankruptcy until discharge. Usually after several rounds of disputing both with the credit bureaus and the creditors directly, you will get things reporting correctly. Some creditors have two bankruptcy tags, petitioned for bankruptcy and discharged bankruptcy and the account never gets changed correctly to the second tag. Most creditors will not have an exact date, but will have that month, so anything reporting with a date later than May, 2010 would be something that you could dispute.
                          You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

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