A bankruptcy generally affects a debtor's credit report for 7 to 10 years. However, this depends entirely on the individual credit reporting agency. The Bankruptcy Court has no influence on the type of information the credit bureaus report, nor how long they keep it in their records.

If you are interested in pulling a credit report for yourself, you should visit the website:

www.annualcreditreport.com.


Under a new federal law, you have the right to receive a free copy of your credit report once every 12 months from each of the three credit reporting agencies. Each agency's report on your credit may contain information from different creditors. To receive a free annual credit report, you can call or send a written request to:

Annual Credit Report Request Service
PO Box 105281
Atlanta, GA 30348-5281
1-877-322-8228
You can also contact the credit reporting agencies directly at:
Equifax - www.equifax.com / 1-800-685-1111
Experian - www.experian.com / 1-888-397-3742
TransUnion - www.transunion.com / 1-800-916-8800

Each case is different, but a general rule of thumb in a Chapter 7 case is that a debtor's discharge will be entered about 120 to 150 days after the case was filed. The entry of a discharge may take longer if a debtor's entitlement to the discharge is contested. In Chapter 11 cases, a discharge is obtained when the plan is confirmed and other Bankruptcy Code requirements have been satisfied. In Chapter 12 and 13 cases, a discharge is not entered until the plan has been completed. Chapter 12 and 13 plans generally last from 36 to 60 months (3 to 5 years).

The section 341 meeting, also called the meeting of creditors or creditor's meeting, is a meeting that a debtor is required to attend after filing bankruptcy. The meeting is conducted by the case trustee or the U.S. Trustee. The debtor must appear at this meeting and testify, under oath, about his financial condition, assets and debts. The debtor will be asked about the information he has placed on his bankruptcy paperwork. Creditors may also attend this meeting and question the debtor, although the meeting is directed by the trustee assigned to the case and most of the questions originate with him. If a debtor fails to attend the meeting, his bankruptcy case can be dismissed.

For debtors located in the Nashville area, the creditor's meeting is held 20 to 40 days after the petition is filed. For debtors living in the Cookeville and/or Columbia divisions, the meeting is held 20 to 60 days after the petition is filed. After a bankruptcy petition is filed, the debtor will receive notice by mail of the date and time of the creditor's meeting, as well as notice of what items should be brought for review by the trustee at the meeting (such as proof of identification, bank statements, tax returns, etc.).

A creditor matrix is a list of the names and current addresses of all creditors and other parties that should have notice of a bankruptcy. It is prepared by a debtor and must be filed at the same time the bankruptcy petition is filed. As a debtor, it is your responsibility to ensure you have listed current, valid addresses for your creditors. If mail sent by you or the Clerk's Office regarding your bankruptcy comes back as "undeliverable," it is your responsibility to try to find a good address for the creditor and notify the Clerk's Office of the good address. Additionally, if you obtain a different address for a creditor after you file your bankruptcy, you must notify the Clerk's Office in writing of the new address.

It is possible for creditors and other parties to add themselves to the matrix as well. Names may be added or changed when a creditor files a proof of claim in your bankruptcy case or files a notice of change of address. Attorneys who appear in your case on behalf of a creditor will also get added to the matrix.

The Clerk's Office will notify all the creditors you have listed on your creditor matrix of your bankruptcy filing by mailing a written notice to them. For this reason, it is very important that you provide complete addresses, including city, state and zip code, for each creditor on your matrix.

If you feel a more immediate notice of your bankruptcy must be given to a particular creditor, it is your responsibility to determine what type of notice is appropriate and give that notice to the creditor.