Nov
12
2008

Removing bankruptcy from your credit report

Dear Experian,

It’s been just about 10 years since my bankruptcy was been discharged. How do I go about getting it removed from my credit report?

- ENZ

 

Dear ENZ,

You don’t have to do anything. The bankruptcy and any included accounts will be deleted automatically.

The discharge date is the date the bankruptcy plan is completed after being filed. But, the discharge date has nothing to do with when the information will be deleted. In fact, it is quite possible that the information has already been deleted.

The bankruptcy record from the court is deleted either seven years or 10 years from the filing date of the bankruptcy depending on the chapter you declared.

Chapter 13 bankruptcy is deleted seven years from the filing date because it requires at least a partial repayment of the debts you owe. Chapter 7 bankruptcy is deleted 10 years from the filing date because none of the debt is repaid.

Individual accounts included in bankruptcy often are deleted from your credit history before the bankruptcy public record. Usually, a person declaring bankruptcy already is having serious difficulty paying their debts. Accounts are often seriously delinquent before the bankruptcy.

All delinquent accounts are deleted seven years from the original delinquency date, which is the date the account first became delinquent and was never again current. Declaring bankruptcy does not alter the original delinquency or extend the time the account remains on the credit report.

If the account was delinquent before being included in the bankruptcy, it will probably be deleted before the bankruptcy public record because the original delinquency date is typically earlier than the bankruptcy filing date.

I encourage you to get a copy of your credit report. It’s free once every 12 months at www.annualcreditreport.com. You might find the information is already gone.

Thanks for asking.

- The “Ask Experian” team

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