Winninger Posted February 4, 2007 Report Share Posted February 4, 2007 Looked at previous posts, and think I'm on track. Just wanted to re-affirm with you all:A BK eliminates debt, but not debt reporting.In other words, CRAs may and probably will report old accts, included in BK, with zero balances, and possibly note "included in BK," "charged off in BK" etc.Is that an accurate assessment?Many thanks. Link to comment Share on other sites More sharing options...
gypsie Posted February 4, 2007 Report Share Posted February 4, 2007 you got it! Link to comment Share on other sites More sharing options...
LadynRed Posted February 4, 2007 Report Share Posted February 4, 2007 A BK eliminates debt, but not debt reporting.No. Bankruptcy eliminates YOUR LIABILITY for the debt, it does not technically erase the debt itself. However, no one can ever attempt to collect on a discharged debt. The debt therefore must be reported as "IIB", ZERO balance, ZERO due, and no charge-off or past due dates AFTER the date of your BK filing. If a debt was bad before you filed BK, it still only reports for 7.5 years from DOFD. If it was not delinquent before you filed, it reports for 7.5 years from your BK filing date. Link to comment Share on other sites More sharing options...
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