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Credit Card Applications » Questions » User Questions » Limited/Bad/Fair Credit » I filed bankruptcy in Feb 2008 and never went through with it and paid off all my debts ...

I filed bankruptcy in Feb 2008 and never went through with it and paid off all my debts myself. This bankruptcy was dismissed by the court since I never went to the meeting of the creditors. Can I have this removed from my credit report?

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Leo Zhu

No, unfortunately you cannot do this.

A Chapter 7 bankruptcy may display on your credit for 10 years from the date of filing. Chapter 13 may also stay for 10 years but it customary to be removed after 7 years. So the bankruptcy may be shown on your report from seven to ten years and is removed after this period‘s passed.

Although the bankruptcy is staying in your report for 7 – 10 years, it won’t necessary affect your credit score the entire time. You will be able to start rebuilding your credit after 1 – 2 years after bankruptcy discharged.

Yes, you will be able to get a credit account after 1-2 years, but the interest rates and fees will be extremely high because you are too risky for lenders. However you may find a card which is suitable to you but it won’t be easy.

Applying for a card may became the first step to a better credit and will cease the negative impact of the bankruptcy. For example you can apply for a secured credit card and improve your situation by using the card properly. You should show that you can manage the credit you’ve given – pay off your balance every month, pay the bills on time and don’t exceed the limit. Don’t forget to check your credit reports – track the situation.

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