The Bankruptcy Court has no jurisdiction over credit reporting agencies. The Fair Credit Reporting Act, 6 U.S.C. Section 605, is the law that controls credit reporting agencies. The law states that credit reporting agencies may not report a bankruptcy case on a person's credit report after ten years from the date the bankruptcy case is filed. Other bad credit information is removed after seven years.

Federal law permits creditors to report credit activity for up to seven years. Bankruptcies, however, are permitted to be reported for up to ten years.

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Only the credit reporting agencies have the power to remove items from your credit report. But, as required by law, the credit reporting agencies must correct or remove inaccurate, erroneous, or obsolete information.

Surprisingly there can be. Some banks prefer to see an old bankruptcy rather than old unpaid charge offs.

Answer: The bankruptcy clerk does not report to any credit office, however, the bankruptcy records, docket sheets, files, etc. are public record. Members of credit reporting agencies retrieve this public information through electronic services or with actual visits to the office. You may contact credit agencies to update your records if desired. Further, credit reporting agencies are governed by various state and federal non-bankruptcy laws regarding the accuracy of their information.

The results of your bankruptcy case will be part of your credit record for ten (10) years. The ten years are counted from the date you filed your bankruptcy. This does not mean you can't get a house, a car, a loan, or a credit card for ten years. In fact, you can probably get credit even before your bankruptcy is over! The question is, how much interest and fees will you have to pay? And, can you afford your monthly payments, so you don't begin a new cycle of painful financial problems.

This question comes up all the time, and it is perhaps the most confused area in all of Bankruptcy. There will be an entry on your credit report showing "Bankruptcy" and showing the date you filed. It will remain on your credit report for 10 years. (7 years in the case of a Chapter 13 bankruptcy) This is so, because the credit reporting agencies are allowed by law to report your bad credit information for up to 10 years.

The purpose of a credit report is to present an accurate picture of your credit history to anyone with a permissible purpose to view your report. If there is negative information on your report, but it is true, it needs to stay. Of course, if the data is false, then you need to file a dispute to get it removed. Stay clear of any outfit that claims they can "fix" your credit report. Only time and a good pay history can do that.

A bankruptcy filing generally remains on your credit for ten years following a Chapter 7 filing, and seven years following a Chapter 13 filing. A bankruptcy filing will of course negatively impact your credit score, but if you are significantly behind making timely payments to creditors your credit rating may already be adversely affected. Given that the bankruptcy eliminates some or all of your debts, you may be in a better financial situation to pay your bills and improve your credit.

Unfortunately, no. The victim will still have the responsibility of following up with creditors and credit bureaus to remove fraudulent information.

If an employee is overpaid, when the refund is received, the credit will be noticed on the Organization’s Suspense Account. To correct: Initiate a Credit Distribution Adjustment to move the credit to the appropriate PTAEO. Click here for instructions.

The fact that an individual filed bankruptcy can remain on a credit report no longer than 10 years under provisions of the Fair Credit Reporting Act. While the information presented above is accurate as of the date of publication, it should not be cited or relied upon as legal authority. It is highly recommended that legal advice be obtained from a bankruptcy attorney .

Under the Fair Credit Reporting Act, 15 U.S.C. §1681, a bankruptcy can remain on a credit report for ten years. If you have additional questions, contact a bankruptcy attorney or visit the website of the Federal Trade Commission, at http://www.ftc.gov/bcp/conline/edcams/credit/index.html. The Bankruptcy Court is not involved in ensuring the accuracy of information appearing on credit reports. You may be able to obtain a free credit report with information found at https://www.

Many bankruptcy attorneys do not adequately understand or explain the effects of bankruptcy to their clients. Stated simply, bankruptcy is to the credit rating what the atomic bomb is to the battlefield. When you file for bankruptcy, every credit account that you decide to include in bankruptcy will become an "included in bankruptcy" item. Additionally, a bankruptcy filing and bankruptcy discharge listing will appear in the court records section of your credit report.