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In 2005 before the law changed I filed. It was held against you for eight years before the law changed. It is eight years this Oct.does this come under the old law or do I have to wate the ten years as the new law states?
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Bankruptcy Attorney serving Burbank, CA
Partner at
Law Office of Mark J. Markus
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I'm not exactly sure what you mean by "held against you." Assuming you received a discharge in your bankruptcy, it's not being held against you after that. The fact that you filed a bankruptcy can be reported on your credit report for up to 10 years after the date your case was filed, but that shouldn't affect your credit very much.
The credit reporting laws are not bankruptcy laws, so the "new" 10 year rule applies regardless of when you filed your bankruptcy case.
Mark Markus has been practicing exclusively bankruptcy law in California since 1991. He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization, AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.
Answered on Aug 10th, 2013 at 12:58 PM