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True or False?

By Minden Lawyers, Oct 12 2017 07:08PM

A bankruptcy filing will stay on my credit report forever.

Answer: False. Under the Fair Credit Reporting Act, credit reporting agencies may not report a bankruptcy case on a person's credit report after 10 years from the date the bankruptcy case is filed. A Chapter 13 bankruptcy case may be removed from reporting on your credit reports after seven years, according to the policies of the members of the Associated Credit Bureaus, as an effort by them to persuade individuals to file a Chapter 13 bankruptcy rather than a Chapter 7 bankruptcy.

Nothing stated herein constitutes the giving of legal advice. Every case is different. If you are dealing with a legal matter, call an attorney to discuss your specific case.

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