Reporting Errors After Bankruptcy
It’s hard enough to worry
about re-building your good credit after bankruptcy without having to worry
about old accounts still showing up as past due. That’s why the Official
Commentary to the Fair Credit Reporting Act states that
once a consumer discharges a debt in
bankruptcy, the only thing that can be shown on the consumer’s credit report is
that the debt has a $0 balance and has been discharged
in bankruptcy. Your credit score can be adversely affected by bankruptcy errors in your
credit report. Credit bureaus (such as Equifax, Experian, and Trans Union) have
an obligation to provide accurate reports, free from any known errors. Some
creditors or buyers of debt will not report your discharge to credit bureaus, and
they will instead "park the debt" during the bankruptcy and then try to collect
the debt after it has been legally discharged.
Why Do Creditors
As Past Due?
Simple. It’s all about the money. Creditors know that you will eventually want
to buy a home or new car. Maybe you’ll apply for a new job or maybe you’ll want
to rent an apartment. Whatever the reason, you will need to rely on your credit
report. And when you do, the lender or employer
is going to tell you that you can’t get what you need unless you clear up that
old bill by paying it. And you’ll pay the money - not gladly, but just to get
what you need.
Creditors make billions of dollars each year
from people who have been through bankruptcy and still end up paying the debts. They count on it and know they
don’t need to do anything but sit back and wait for the cash to roll in.
Should I Do About Bankruptcy Credit Reporting Errors?
We can assist you
with correcting bankruptcy errors on your credit reports.
click here to contact our office if
you have a
bankruptcy error on a credit report. Contact
the Valentine Legal Group today so we can get started on helping you achieve the
fresh start after bankruptcy that you deserve.