Bankruptcy Credit Report Errors

Filing for bankruptcy helps erase your debts and start fresh, but this may not always be reflected on your credit report. Uncorrected errors could continue to hurt your credit over time and cause additional problems. Sharmin & Sharmin PA credit report attorneys can work with you to correct these errors and protect your credit going forward. 

Common Florida Credit Reporting Errors After Bankruptcy 

Bankruptcy impacts your credit report in several ways. First, the length of time bankruptcy stays on your credit report depends on the chapter you filed for. Bankruptcy will be listed on your report for 10 years when you file Chapter 7 bankruptcy, and for 7 years when you file Chapter 13 bankruptcy. Second, it also takes time to rebuild your score by making regular payments and keeping your debts down. 

However, your credit report can also be impacted by errors that can occur far too easily after the bankruptcy process is complete. Below are a couple of common mistakes that can occur after bankruptcy:

• Incorrect balances: Bankruptcy wipes out debts so you do not have to make further payments. Your credit report should reflect this change and show that you no longer have a balance. However, if your credit report shows that you have an outstanding balance on a debt that has been discharged, this is an error that should be promptly reported. 
• Creditor reporting: After bankruptcy, creditors may not report the discharged debts immediately. Your previous debts may continue to be incorrectly reported in some instances. This can be damaging to your credit if not corrected as soon as possible. 
• Duplicates: Debts can accidentally be listed more than once on your credit report after a bankruptcy. This can be especially problematic if the entries were discharged during bankruptcy. You will need to contact the creditor and the reporting agency to get these corrections made. 

Take Steps to Correct Florida Credit Reporting Errors After Bankruptcy

Once you have discovered errors on your credit report after bankruptcy, it is important to take steps to correct mistakes in your credit report. You will need to report all errors to the credit agency where you saw the mistake. You will also need to provide evidence that your debts were discharged during bankruptcy. Depending on the source of the error, the credit reporting agency or your previous creditor will need to respond to your report. 

If either party agrees to fix the error, be sure to get as detailed information from them as you can, along with an estimated timeline. Try to get this information in writing so you have evidence in the event of a dispute. Additionally, if either party fails to take action to fix the report, you can consult your attorney for help and direction on next steps. 

Consult Sharmin & Sharmin P.A. About Your Florida Credit Report Today

Protecting your credit is an important and ongoing practice. This is especially true after bankruptcy. You should closely monitor your credit report to verify that all changes have been accurately made. If there are errors, contact a lawyer from Sharmin & Sharmin PA. to act quickly and get the help you need to resolve the errors and clear up your credit report at 561-655-3925.