Legal Question in Bankruptcy in California
bankruptcy discharge
I seem to remember a few years back, sometime between 1997 and the present,
the law regarding the number of years a Chapter 7 bankruptcy was reported on
a credit report was changed from 7 years to 10 years. Am I remembering
correctly? Can you tell me what year the law changed? I'm trying to get it
discharged from my credit report and when I try to dispute it they tell me it
won't be discharged for 10 years. It's been 8 years and when I filed the law was
that it would be discharged after 7 years.
2 Answers from Attorneys
Re: bankruptcy discharge
As far as I know, it is not a law but an industry practice to keep it on the credit report for 10 years. Good luck in challenging the big 3!
Re: bankruptcy discharge
I have been practicing for 22 years, and it has ALWAYS been 10 years, never 7 years--you are probably confusing bankruptcy with judgement liens, which stay on your record 7 years.
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