Legal Question in Bankruptcy in California
Chapter 7 Bankruptcy
What is the time frame when you file a Chapter 7? Is it ten years before you can have this removed off your credit report? Can you have this removed off your credit report before the time period?
1 Answer from Attorneys
Re: Chapter 7 Bankruptcy
When a bankruptcy is filed, the major credit reporting agencies are notified. The bankruptcy is then added to the credit report, along with the date of filing. The bankruptcy will remain on the credit report for 10 years. How the presence of the bankruptcy on the credit report will affect the debtor will vary per creditor. If a bankruptcy is dismissed, paid off, or otherwise resolved without discharge, the filing information will remain on the report. Therefore, the individual circumstances regarding the reasons for dismissal may need to be addressed by the debtor in future dealings with creditors.
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