REPAIRING YOUR OWN CREDIT
AFTER BANKRUPTCY
After bankruptcy, any debt that was discharged should be
listed on your credit report with a zero balance and a note that the “debt was
included in bankruptcy.” Very often that
is not the case resulting in a credit score which is lower than it should be.
This fix is relatively simple and can be done by yourself
for minimal or no cost at all.
The three national credit agencies are required to provide
you with a free credit report once every 12 months. You can go to www.annualcreditreport.com or call 1-877-322-8228, to get these reports. If you see this
mistake on your credit report the first step is to alert the credit reporting
company either online or by mail, of any item of information that you believe is incorrect.
Each credit reporting company website has a link with
instructions of how to dispute an inaccurate item online. Typically, all you need is your case number,
bankruptcy chapter and filing date. This
information is located on the Notice of Case Filing you received from the
Court.
If you are contacting them by mail, include copies of your
bankruptcy schedules and discharge notice to support your claim. We suggest you include a copy of your credit
report; highlight or circle each item you are questioning. Explain why you are disputing the information
and ask that it be removed or corrected.
Keep copies of all the correspondence you send the credit reporting
agency. Also be sure to send everything
certified mail with a return receipt so you can be sure your information was
received. Be sure to keep a file with copies of
everything you send to the credit reporting company.
The credit reporting agency has 30 days to investigate your
dispute(s). Once the agency has finished
their investigation, they will give you the results in writing.
If a creditor disagrees with any objection and states that
they have a valid debt, it is very likely they are violating the bankruptcy
discharge and may be subject to court sanctions. Please contact us IMMEDIATELY if that is the
case.
Segaul Law Firm
300 South Pine Island
Road, Suite 304
Plantation, FL 33324
954-424-3600
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