Remove Bankruptcy Remove Chapter 7 Remove Debt Collections
article thumbnail

RMAI Update May 2023

RMAi Blog

26, 2023) A consumer filed for Chapter 7 bankruptcy, listing past-due rent he owed, and was subsequently granted a discharge. A debt collector unaware of the discharge, allegedly due to a bona fide error, sent several collection letters to the consumer regarding the past-due rent. .” 21-3131, 2023 U.S.

Collector 100
article thumbnail

Online Credit Reports & How They Are Tracking Everything You Do

Due

Examples include: Bankruptcies. If you see a debt collection on your credit report, don’t panic. What to look for in public records: A Chapter 7 bankruptcy stays on your credit report for 10 years after it’s filed. On the hand, after seven years, a Chapter 13 bankruptcy can be wiped out.

article thumbnail

How Long Does It Take to Rebuild Credit After Debt Settlement?

CreditStrong for Business

Regarding the resulting bad credit, settlements could reduce your credit score by over 100 points, which likely remains higher than if you had multiple accounts in debt collection that ended in bankruptcy. In most instances, reasonable expectations for a post-debt settlement recovery range from approximately 12 to 24 months.