Legal Question in Bankruptcy in California

Re: time frame for chapter 7 changes regarding credit report

Thanks for your question. The law that applies here is the Fair Credit Reporting Act (FCRA), 15 U.S.C. � 1681 et seq.

The latest version of the FCRA was the amended version as of January 7, 2002. It includes the amendments to the FCRA set forth in the Consumer Credit Reporting Reform Act of 1996 (Public Law 104-208, the Omnibus Consolidated Appropriations Act for Fiscal Year 1997, Title II, Subtitle D, Chapter 1), Section 311 of the Intelligence Authorization for Fiscal Year 1998 (Public Law 105-107), the Consumer Reporting Employment Clarification Act of 1998 (Public Law 105-347), Section 506 of the Gramm-Leach-Bliley Act (Public Law 106-102), and Sections 358(g) and 505(c) of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT Act) (Public Law 107-56).

I was practicing in 1999, and there was no change to the 10 year requirement, which has been part of the F.C.R.A. since the beginning.

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Re: time frame for chapter 7 changes regarding credit report

It makes no difference whether you filed your case before the law change or not. The current law allows it to be erported for 10 years, so it will come off your credit report (supposedly) on 3/31/09.