Your bankruptcy case may have happened years ago and you may be in a much better financial position since then. This is why we understand your frustration when you realize this incident still appears within your credit report. This may be especially because it affects your ability to take out a personal loan, apply for additional lines of credit, and more. With this, you may want to clear your bankruptcy history from your record once and for all. Follow along to find out the possibility of removing bankruptcy from your credit report and how a proficient Rockland County bankruptcy attorney at The Law Offices of Allen A. Kolber, Esq., P.C. can help you move on from this.
How long does a bankruptcy case stay on my credit report?
The length your past bankruptcy case is supposed to stay on your credit report may depend on which type you filed for. Specifically, your Chapter 7 bankruptcy may remain on your report for 10 years from your original filing date. Then, your Chapter 13 bankruptcy may stay there for seven years from the date you filed.
The reason why Chapter 7 bankruptcy may be reported for longer is because you will likely discharge more of your debt with this option. Overall, though, your credit score may be negatively affected throughout this duration for either type.
Is there a way to remove bankruptcy from my credit report?
We regret to inform you that there is no tangible way to remove your bankruptcy history from your credit report before these seven to 10 years pass. However, what you can do during this time is remove inaccurate or untrue information from your report.
For example, you may submit a dispute letter with the credit reporting agencies if a creditor unnecessarily filed an involuntary bankruptcy petition against you. In this way, the New York State bankruptcy court will not allow this to be reported to the credit bureaus.
Or, you may have the right to dispute negative items you do not recognize as part of your bankruptcy case. An example of falsified information that may further damage your credit score is a disclosure regarding a late payment on your court-ordered Chapter 13 repayment plan.
Lastly, you may dispute an inaccurate filing date for your Chapter 7 or Chapter 13 bankruptcy case. This is because a disclosed date that is later than the actual date may make your bankruptcy incident appear on your credit report for far longer than it has to be.
This blog is just the tip of the iceberg when it comes to bankruptcy laws in New York State. So for more information, please reach out to a talented Rockland County bankruptcy attorney from The Law Offices of Allen A. Kolber, Esq., P.C. today.
