QUESTION
How long does a Chapter 7 stay on your credit?
Asked on Jul 27th, 2012 on Bankruptcy - New Jersey
More details to this question:
Did a chapter 7 always stay on your credit report for 10 years? Even before the law changed in 2005?
17 ANSWERS
William C. Gosnell
Ten years.
Answered on Aug 23rd, 2012 at 9:48 AM
Immigration Attorney serving Arlington, TX
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Law Office of Pho Ethan Tran, PLLC
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Yes
Answered on Aug 15th, 2012 at 4:46 PM
Litigation Attorney serving San Antonio, TX
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Graves Law Firm
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The 2005 amendments to the bankruptcy code didn't change the credit reporting laws.? The ten-year rule for court records was in place well before 2005, ans it still is.
Answered on Aug 15th, 2012 at 4:45 PM
Glen Edward Ashman
Yes, 10 years, and it's been that way a long time.
Answered on Aug 15th, 2012 at 4:45 PM
Criminal Law Attorney serving Fremont, CA
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Steven J. Alpers, A Professional Corporation
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I am not sure. It stayed on your record for at least 8 years back then.
Answered on Aug 15th, 2012 at 4:44 PM
Bankruptcy Attorney serving Livonia, MI
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Charles J. Schneider, P.C.
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Yes. It can remain as long as 10 yrs.
Answered on Aug 15th, 2012 at 4:44 PM
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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It stays on there for 7 to 10 years, and did prior to the changes.
Answered on Aug 15th, 2012 at 4:44 PM
It stays in your credit fir 10 years.
Answered on Aug 15th, 2012 at 4:44 PM
10 years is the right answer. Although it is always risky to get legal advice from your friends, in this case they were right. Remember that "on my credit report" is not synonymous with "can't get credit". Old bankruptcy matter a good deal less than what has happened since then.
Answered on Aug 15th, 2012 at 4:43 PM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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A bankruptcy stay on your credit for 10 years. The change in the bankruptcy law has nothing to do with the policy established by the credit reporting agencies.
Answered on Aug 15th, 2012 at 4:42 PM
The amount of time bankruptcies stay on your credit is defined by 15 U.S.C. 1681c(a)(1). The rule basically states that a bankruptcy may remain on your credit for up to 10 years. This has been true since the amendment to the rule in 1978 when the time was shortened from 14 years.
Answered on Aug 15th, 2012 at 4:42 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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It is up to the credit reporting companies what the report.
Answered on Aug 15th, 2012 at 4:42 PM
Yes. It remains for 10 years like any other public record would. The BACPA changes in 2005 have nothing to do with it.
Answered on Aug 15th, 2012 at 4:42 PM
Bankruptcy & Debt Attorney serving Syracuse, NY
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Theodore Lyons Araujo
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Ten (10) years.
Answered on Aug 15th, 2012 at 4:41 PM
Bankruptcy Attorney serving Seattle, WA
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The Law Office of Marc S. Stern
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Yes. That has always been the law.
Answered on Aug 15th, 2012 at 4:41 PM
Meredith P. Ezzell
A Chapter 7 bankruptcy will stay on your credit report for 7 to 10 years depending upon which of the three credit reporting agencies you are looking at - Equifax, Experian or TransUnion.
Answered on Aug 15th, 2012 at 4:41 PM
Bankruptcy Law Attorney serving Livingston, NJ
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Law Office of Stuart M. Nachbar, P.C.
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Yes it did.
Answered on Aug 15th, 2012 at 10:46 AM