You filed bankruptcy. You filled out all the paperwork and met with your attorney. You attended a meeting with a trustee and eventually received a discharge. Now what? Well, the good news is that you are debt-free with the exception of any non-dischargable debts you may have and debts you did not wish to discharge. Unfortunately, no one told the credit agencies, and your credit score and ability to obtain credit are suffering as a result.
After filing bankruptcy and receiving a discharge, debtors should contact the three main credit agencies (Transunion, Equifax, and Experian) and request that all pre-petition debt be removed from their credit report. Reaffirmed debts or debts listed as “pay direct” in a Chapter 13 plan should not be removed. These debts are still the responsibility of the debtor and will help them improve their credit score by establishing a record of making payments in full and on time. Cleaning up credit reports following a discharge is an important part of improving a debtor’s financial situation. Doing so will allow debtor’s to improve their credit score and obtain cheaper credit.
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