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Bankruptcy

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hanth23 Joined: 22 Jul 2007 Posts: 23 11.06 Dollars($)	Posted: Sat Jul 28, 2007 5:25 am    Post subject: Bankruptcy Please advise regarding, how the lender reports to the credit bureaus, when you bankruptcy (chapter 7 or 13) is filed and after the bankruptcy is discharged. How, is it different from the normal credit reporting.
adonis Joined: 22 Oct 2005 Posts: 4814 Location: ALASKA 269.19 Dollars($)	Posted: Sun Jul 29, 2007 11:22 pm    Post subject: When you file bankruptcy, the court clerk sends a notice to your lender notifying them. Now it's lender duty to report credit bureaus notifying about the bankruptcy filed by you.
larry Joined: 27 Jun 2007 Posts: 3328 474.61 Dollars($)	Posted: Mon Jul 30, 2007 5:07 am    Post subject: Hi Hanth, When your bankruptcy is reported to a credit bureau, it may remain on your credit report up to 10 years after the filing of the case. Lenders views bankruptcy as an extremely negative item on your credit report and thus have a negative effect on your credit score.

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