Credit Report Changes for Chapter 13 Bankruptcy Filers
If you file for Chapter 13 bankruptcy , how long does information about that consumer bankruptcy remain on your credit report? According to a recent article in ProPublica , for most consumers who look at their TransUnion and Experian credit reports, they will find that the credit reporting agencies report Chapter 13 bankruptcies for seven years. However, Equifax had been reporting consumers’ Chapter 13 bankruptcies for a longer period of time. Indeed, “hundreds of thousands of people who had filed for bankruptcy under Chapter 13” discovered that their history of bankruptcy remained on their credit report for 10 years if they failed to complete their bankruptcy plans. The good news is that Equifax has changed this policy, but it is not yet clear how many consumers have been affected. If you filed for Chapter 13 bankruptcy more than seven years ago and were denied credit, the denial may have been a result of Equifax’s policy. You should talk to a bankruptcy attorney in Oak ...