Bankruptcy in 2000 was to come off credit in 2007. Law changed recently to 10. Shouldn’t pertain to us, right?

Ours was filed in June 2000, discharged in Sept. 2000. The laws at that time were seven years to stay on our credit. Just in recent years, it has changed to 10 years. Should we not be “grandfathered” into the laws of when we filed? The new law does not apply to our bankruptcy 7 years ago. It should have still come off Sept of last year. Experian, etc is being jerks about it and won’t take it off. I need to know if I must hire an attorney just to get off what should have come off anyway. Thanks.

This entry was posted on Friday, February 27th, 2009 at 12:28 pm and is filed under Bankruptcy Law. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

5 Responses to “Bankruptcy in 2000 was to come off credit in 2007. Law changed recently to 10. Shouldn’t pertain to us, right?”

1. engineer50 Says:
   February 27th, 2009 at 1:59 pm

   Wrong. You are not “grandfathered.” Where’d you get that idea?

2. blessed_thang Says:
   March 2nd, 2009 at 2:29 pm

   I don’t know the particulars, but people I have known that filed seem to have bankruptcy on their records forever. I mean, you apply for credit, they want a credit history…

3. dragonkraut Says:
   March 3rd, 2009 at 11:46 am

   Unfortunately nothing is “grandfathered” in. When the laws change, they include everybody. If you’ve had a good history since then, your credit should have recovered and any loans you apply for really only consider a bankruptcy if it’s been in the last couple years, depending on the severity.

4. SPIFIMAN1 Says:
   March 6th, 2009 at 7:20 pm

   It’s not the new law, since you filed in June and were discharged in September of the same year, I must assume yours was a chapter 7 bankruptcy.

   Chapter 7 has always been 10-years.

   90% of your credit score is made up of the last 24-months of activity so if you have re-established your credit like you should have the BK is not really hurting you score wise anymore.

5. Studly Says:
   March 7th, 2009 at 1:44 pm

   I gotta disagree with everyone here. When they pass a law, it is never retroactive.

   If you did something wrong, and a few years later they pass a law to make that “wrong” a crime, they do not go back and punish those people!

   Nothing in the new credit reporting law specified that it would be retroactive.

   I’ve helped many people dispute this with the credit bureau and won. You need to have your court paperwork to prove the date.

   Note that we are talking about Chapter 13′s. If your BK was a BK7 then it always was 10 years.