On my credit report what is the difference between Petition for Chapter 7 bankruptcy and Discharged through Chapter 7 bankruptcy

Asked 11 months ago - Montrose, CO

Some of my accounts say petitioned the others say discharged? I am not sure what the difference is? Will the petitioned ones eventually say discharged?

Attorney answers (3)

  1. Christopher Daniel Leroi

    Contributor Level 20

    7

    Lawyers agree

    Answered . If you Petitioned for discharge through Chapter 7 and it shows that it was discharged, then the debt is no longer owed to that credit card or that business. If it does not show as discharged, that does not necessarily mean that it was not discharged, it might just be that the company did not update their account with the credit companies.

    The information provided in this answer does not create an attorney-client relationship and is not considered to... more
  2. Matthew Scott Berkus

    Contributor Level 20

    7

    Lawyers agree

    Answered . It's a difference without distinction. So long as the individual accounts that were listed in your bankruptcy show a zero balance due, that is the most important entry. How the accounts report the "status" or "comment" is less important so long as it reflects a bankruptcy in some manner. When it comes to the status of the bankruptcy, it is the public record entry on your credit report that is important.

  3. Daniel Nelson Deasy

    Contributor Level 20

    6

    Lawyers agree

    Answered . Mr. Leroi is right.

    By the way, did you talk to your bankruptcy attorney about this?

    In no way am I offering you legal advice, and in no way has my comment created an attorney-client relationship.... more

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