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7 years or 11 years on credit report

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mom6399

Member
What is the name of your state (only U.S. law)? GA

I was forced into bankruptcy (chpt 7) due to divorce in 2003. At that time, the bankruptcy would impact my credit rating for 7 years. I was told today that the laws have changed and bankruptcies will remain on credit reports for 11 years. Is this the case for bankruptcies discharged before the change?

I'm so close to what I thought was the end of this...it is discouraging to hear all of my hard efforts to recover will not be realized for four years later than anticipated.

Thanks in advance for the info.
 


JETX

Senior Member
Here are the durations that a negative can show on your credit report (per the FCRA - Fair Credit Reporting Act):

§ 605. Requirements relating to information contained in consumer reports [15 U.S.C. §1681c]
(a) Information excluded from consumer reports. Except as authorized under subsection (b) of this section, no consumer reporting agency may make any consumer report containing any of the following items of information:
(1) Cases under title 11 [United States Code] or under the Bankruptcy Act that, from the date of entry of the order for relief or the date of adjudication, as the case may be, antedate the report by more than 10 years.
(2) Civil suits, civil judgments, and records of arrest that from date of entry, antedate the report by more than seven years or until the governing statute of limitations has expired, whichever is the longer period.
(3) Paid tax liens which, from date of payment, antedate the report by more than seven years.
(4) Accounts placed for collection or charged to profit and loss which antedate the report by more than seven years.
(5) Any other adverse item of information, other than records of convictions of crimes which antedates the report by more than seven years.
(6) The name, address, and telephone number of any medical information furnisher that has notified the agency of its status, unless--
(A) such name, address, and telephone number are restricted or reported using codes that do not identify, or provide information sufficient to infer, the specific provider or the nature of such services, products, or devices to a person other than the consumer; or
(B) the report is being provided to an insurance company for a purpose relating to engaging in the business of insurance other than property and casualty insurance.
 

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