<Y-chat@webtv.net> wrote in message news:1780-3F11F236-47@storefull-2377.public.lawson.webtv.net...bc wrote:
Regarding your statement below, can you point me to any statutes or rulings showing that Chapter 13 is removed from your credit report after 7 years? Also, is this from date of filing or date of discharge? I can't seem to get a straight answer on this issue, so if you are in the know, please advise.

It is in the FCRA ( Fair Credit Reporting Act)

The reason Ch 13 falls under the FCRA "7 year" obsolescence period ,
rather than the standard 10 year time frame for Ch 7, is because it is
not a "full" bankruptcy, but rather a "workout" program. The 7 year
period starts from the filing date.

The exception is if it is dismissed prior to completion of the workout
program, in which case it falls again within the purview of the
"standard" 10 year obsolescence period.


Thanks for the reply. I have read both seven and ten years, and lawyers within these groups have said it's ten years, not seven. I was researching this issue when your old post showed up in Google, that's why I asked. I've yet to find a legal definition other than the CR's "may" report bankruptcies for up to ten years. I've seen nothing stipulating that Ch.13 must me dropped after seven other than a few posts on Usenet. I'm surprised that this is so unclear to the professionals. Thanks again for the explanation. I'll look at the FCRA rules again.

bc

You need to understand that a Ch 13 IN PROGRESS, is in the hands of a
trustee, and is not a full public record until it is completed,therefore
it is in the same category as any other debt or a filed judgment.

It is not unusual to have a lack of specific knowledge on this subject,
as it is similar to many other statutes whose meaning can only be
inferred by a process of elimination rather than any specific inclusion.