Legal Question in Bankruptcy in Nevada
duration of bankruptcy on CRW
A discharged ch 7 bankruptcy filed before the 10 year law took effect will still remain on the credit reports for 10 years, is this true?
2 Answers from Attorneys
Re: duration of bankruptcy on CRW
True
Length of Time Bankruptcy stays on Credit Report
I assume that you meant the credit bureau TRW, not CRW. TRW changed its name to Experian several years ago.
There is nothing "new" about any of this - Section 1681c of the Fair Credit Reporting Act was amended to allow Bankruptcy's to appear on credit records for 10 years (instead of the 14 years allowed under the prior law) effective October 1, 1979.
EFFECTIVE DATE OF 1978 AMENDMENT
Amendment by Pub. L. 95-598 effective Oct. 1, 1979, see section 402(a) of Pub. L. 95-598, set out as an Effective Date note preceding section 101 of Title 11, Bankruptcy
For further info on this topic, go to
http://www4.law.cornell.edu/uscode/15/1681c.html
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