It is very important that after a bankruptcy is discharged that the correct information is recorded on the credit bureaus! The attorney (if you used one) filing the paperwork for the bankruptcy does not automatically or necessarily amend the credit report! In most of the post bankruptcy credit reports I have reviewed there is seldom an accurate reflection of the debtors true debt!
Modern credit scoring systems may not allow credit to be issued because of debt ratios, where the debt actually no longer exists. Review your credit report, if the debt was discharged you don’t owe it! The listing should reflect that. As a lender, I have seen many instances after a bankruptcy, where the credit bureau reported as if the debt still existed. Order a copy of your credit profile from the three major credit bureaus. Review your credit profile if you find an account is listed that shows a balance, take action. A simple letter to the creditor asking that the listing be modified may alter the listing.
Some folks don’t mind the hassle of ordering the credit reports and dealing with lenders and credit bureaus. Many people prefer to use credit repair kits or services to remove incorrect listings on their credit reports.
Leave a Reply