The world is not a perfect place. I am glad it isn’t. Otherwise, life would be very boring indeed! In a perfect world, your credit reports would magically be perfect after filing bankruptcy and receiving a discharge. That does not always occur.
It is not unusual for our guests to pull their credit reports after receiving a bankruptcy discharge and find incorrect information on their credit reports. Of course, the three major credit reporting agencies are Trans Union, Equifax, and Experian. Clients will sometimes look at their reports and find that creditors that were discharged in their bankruptcy are still appearing on their credit reports.
For example, let’s say you filed a Chapter 7 Bankruptcy and you listed Sears as a creditor for $800.00. Yet, your credit reports are still showing Sears listed as a creditor on your credit reports for $800. This is incorrect but it can be corrected. We typically tell our guests to wait at least 30 days after receiving a bankruptcy discharge before they pull their credit reports after receiving a bankruptcy discharge. Why? Because we need to give the agencies some time to update their information in their systems. Chances are, if you pull your credit reports days after receiving a discharge that will not be enough time for agencies to update their information.
Kain & Scott automatically enrolls all clients in a FREE 90 DAY Credit Repair Program which assists clients correcting their credit reports, removes judgments for cost (no attorney fees), helps with an online course to learn tricks to improve your credit terms, and provides a list of Minnesota professionals who can help you with auto and home financing and many other things.
To clear up your credit reports, after bankruptcy, send each credit agency a letter stating what they are reporting, why it is incorrect, and proof that it is incorrect, and then please correct this information. The agencies have 30 days to act on your request.
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