Yes, unless the debt was fraudulent incurred. If the debt was fraudulently incurred, the creditor could file an action objecting to the discharge of that debt. One important thing to remember is that judgment LIENS will survive the bankruptcy unless the debtor files a petition under Section 522 of the bankruptcy code to remove the lien. If you file for bankruptcy, make sure you tell your attorney about any judgments against you so the attorney can investigate whether or not any liens exist.
The chapter 13 debtor is entitled to a discharge upon successful completion of all payments under the chapter 13 plan. The discharge has the effect of releasing the debtor from all debts provided for by the plan or disallowed, with limited exceptions. Those creditors who were provided for in full or in part under the chapter 13 plan may no longer initiate or continue any legal or other action against the debtor to collect the discharged obligations. In return for the willingness of the chapter 13 debtor to undergo the discipline of a repayment plan for three to five years, a broader discharge is available under chapter 13 than in a chapter 7 case. As a general rule, the debtor is discharged from all debts provided for by the plan or disallowed, except certain long term obligations (such as a home mortgage), debts for alimony or child support, debts for most government funded or guaranteed educational loans or benefit overpayments, debts arising from death or personal injury caused by driving while intoxicated or under the influence of drugs, and debts for restitution or a criminal fine included in a sentence on the debtor's conviction of a crime. To the extent that these types of debts are not fully paid pursuant to the chapter 13 plan, the debtor will still be responsible for these debts after the bankruptcy case has concluded.
Well the report will show you had judgments and now a bankruptcy. The judgments, if cleared by the bankruptcy, won't be reported as current any more.
In a Chap 13 payment plan, the judgments still exist currently as the bankruptcy is not complete or eliminates them. They just can't take the property or such it may be attached to.
Understand, the credit report is just a historical record of your business provided by a private reporting company for it's clients. You can't change the past you created...that you had judgments and debt...the BK may resolve the debt, as paying them would too, but the late payments, etc. and what occurred, including the discharge by BK meaning you did not make good on your obligation and the lender lost out, is the record.
You cannot have liens or judgments removed unless you write the credit bureaus and give them a copy of your discharged bankruptcy. Some liens and judgments will not need to be paid but will still remain on your credit report.
Most judgments will remain on a CR for seven years. Some judgments are renewable, in which case it can remain on a report indefinitely.
Negative entries from creditors remain seven years from the DLA. Chapter 7 BKs for ten years, Chapter 11 for seven years. Judgments remain for seven years but can be reentered when if they are renewed.
Evictions do not appear on credit reports unless the person is sued and a judgment is entered against them. Judgments remain on a credit report for 7 eyars. Many judgments are renewable and can therefore remain indefinitely.
No, judgments remain on a credit report for seven years. Some types of judgments are renewable and therefore can remain on a report an indefinite amount of time. If you are willing to pay a fine, why not just pay the judgment?
Bankruptcies (both Chapter 7 and Chapter 13) remain on your credit report for 10 years.
No, it will remain on the report until the expiration date for whatever type judgment it might be. Generally judgments are expunged from a CR after seven years. The entry should be noted as having been "included in bankruptcy".
Judgments will remain on a credit report for the required 7 years regardless of the status.
Judgments remain on your report 7 years from the filing date
Bankruptcy. Bankruptcy will not remove a judgment from the debtor's credit report. The judgment will still remain for the required time if it is discharged in bankruptcy, settled or paid in full. Valid judgments remain for the required 7 years. Most judgments are renewable and can be reentered on the debtor's credit report whenever that action is taken.
A BK stays on your credit record for 10 years.
No. In most cases, public record will remain. That is why many BK attorneys, credit counselors, etc. inform you that a bankruptcy never really "goes away".