Here’s the scenario. You filed for Chapter 7 bankruptcy a few years ago. You recently obtained a copy of your credit report and to your amazement you have discovered that many of your pre-bankruptcy creditors are still reported as active although delinquent accounts. But, your bankruptcy lawyer told you all those debts would be deleted and the removal would be shown in your credit report. Now you are simply baffled and need some answers.
Sadly, you’ve just discovered one of the most frustrating post-bankruptcy issues you’ll ever come upon. The problem, though, is easy to explain. The explanation? There’s an enormous distinction between your creditors and the credit reporting agencies. What does that mean in basic english? It suggests that your successful petition for bankruptcy erases your debts with your creditors. However, it does not do away with the documentation of those debts held by the credit reporting agencies. So, you end up with a bankruptcy credit report that causes you more problems that you expected.
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There are 2 ways that to deal with this dilemma.
First, get together all of the following documents:
- Your driver’s license
- Your Social Security Card
- Schedule F (the schedule of your debts from your bankruptcy case that provides the name, address and account number for every creditor)
Make three copies of each of these documents and keep them together as a package. You’ll be sending these packets to every one of the credit reporting agencies.
Now you want to use the dispute resolution process of every one of the credit reporting agencies. They each offer this process online, by telephone or by mail. I recommend you make use of the mail so you’ll get the whole thing in writing. You should mail all of the reporting agencies a copy of your packet with a statement explaining that every creditor listed as active or with derogatory info was included in your bankruptcy and, for that reason, should be removed from your credit report.
You’ll get a lot of data on this dispute process from the internet sites of each one of the bureaus. You’ll need to stay on top of your dispute to make sure the credit bureaus follow through and take away the objectionable items.
Now, for the second possibility: Employ an attorney to perform everything listed above. If you are simply not comfortable performing these steps yourself, there are lawyers who specialize in the credit repair field who are exceedingly accomplished at what they do. And, they truly aren’t that expensive. One of the most notable and successful is Lexington Law.com
Whichever option you choose, make sure you get on it right away. All of those pre-bankruptcy debts still on your credit report are making it harder for you to repair your credit after bankruptcy.
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