Legal Question in Bankruptcy in Alabama

Length of bankruptcy on credit report

I filed chpt.7 in Sept.1997. I was told that it stayed on my credit record for 7 years. Now I'm told 10 years. Is there a 'grandfather clause' for people that filed before they changed the law? If so, how do I notify the credit bureus?


Asked on 6/09/04, 2:14 pm

1 Answer from Attorneys
Sterling DeRamus Sterling L. DeRamus, Attorney at Law

Re: Length of bankruptcy on credit report

You are confusing two different statutes. Under the Fair Credit Reporting Act, all matters on your credit report should be removed after 10 years. Under the Bankruptcy Act, you cannot get a discharge of your debts within 7 years of a previous discharge. You should also be aware that the time period starts to run from the date of your discharge - not the date of your filing. For those filing Chapter 13 bankruptcy then, such a remark could follow you for up to 15 years. In your case though, you probably got a discharge about 6 months after you filed and that is the date on which it will disappear from your credit report. Just follow up with them to make sure.

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Answered on 6/09/04, 2:51 pm


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