Credit Report AFTER BK?

[whattodo]

Hi,

After the dust settles, I am curious to know what a credit report looks like after a Chapter 7 Bankruptcy.

Does it still have everything from years ago like paid collections with all the lates?

[herekitty]

I do believe so. What's on your credit report stays there for at least 7 years.

[HHM]

Hi,

After the dust settles, I am curious to know what a credit report looks like after a Chapter 7 Bankruptcy.

Does it still have everything from years ago like paid collections with all the lates?

Yes it does. There are only two things that change on a credit report when you file bankruptcy.

First, in the public records section fo your CR it will mention that you filed BK
Second, for those accounts that were included in your bankruptcy, the will make a notation of "included in bankruptcy" or "discharged in bankruptcy". But the accounts themselves stay on your credit report.

Collections should drop off once they are satisfied or otherwise disposed of.

[herekitty]

Will it always say that you filed bankruptcy?

[HHM]

Will it always say that you filed bankruptcy?

It will for 7 to 10 years.

[J Armstr]

I am still waiting discharge and I pulled all 3 credit reports. In the public records section it states that I filed a Chapter 7 on 6/2005 and that it's coming off 5/2015.

Credit cards stated zero balance and "Included in BK".

The student loans stated "Not in Repayment". We learned that student loans go to a 6-month foreberance period so that one could get there finances organized. I don't other peoples experience with student loans.

The folks at FICO do not penalize you for looking at your own record. I already corrected some stuff. For example, our RV loan has been showing a delinquincy since June 2005, a charge off was still showing up, and WA Mutual reported us as 120 days late when we were never late. The first two have been fixed already and still waiting to hear from WA Mutual. They have been a pain during BK. For some reason they did not want to come to terms that we filed BK.