Is Debt Included in Bankruptcy Removed From My Credit Report? – Dave

“Dear Steve,

I have most unsecured credit card debt from major banks. Approximately $70,000.

If one does file Chapter 7 bankruptcy, would that immediately remove all past due accounts, defaulted accounts, accounts in collection, etc. from my credit report?

I know that normally negative credit items usually remain on one’s credit reports for up to 7 years.

BUT if they were discharged through bankruptcy, would that mean they would ALSO be removed immediately from my credit reports ?

Thanks,

Dave”

Dear Dave,

No. Your past history would continue to be reported for seven years from the date each account was first reported delinquent.

However it is a relatively easy matter of rebuilding your credit following bankruptcy, Read this guide.

Please update me on your progress by