Legal Question in Bankruptcy in Tennessee

Re: Credit Report

Hi.

The law did not change from 7 years to 10 years. The federal Fair Debt Credit Reporting Act changed from 14 years to 10 years, sometime (I believe) at the end of the 70s or the beginning of the 80s.

Please note: the federal law only prohibits listings for more than 10 years. It does not say it HAS to be reported on your credit report for 10 years. In otherwords, it just says: you can't report it for more than 10 years, but you can report it for up to 10 years.

Anything below 10 years is either (a) voluntary by the credit reporting agency (some agencies have a policy of only reporting 13s for 7 years), or (b) state law. But I frankly don't know of any state law that prohibits or prohibited it from being on your credit rating for more than 7 years. This is not to say that no such state law ever existed: I just don't know.

Hope this answers your question.

Neil Ackerman 516-228-8245