Once the debtor becomes aware that there are items still showing on his credit report, he should send his Melrose Park bankruptcy attorney a copy of the discharge letter and a copy of the letter being sent to the three credit bureaus disputing the information that is still showing as due and owing. Creditors don’t always quickly update the information with the credit bureaus. Take example, a credit card from Sears that might show that the debt is due and owing. For whatever reason it didn’t get updated. That debtor wants to make sure that he pulls his credit report after the bankruptcy case is over and examines it to see if there are any amounts that are still showing due and owing and not recognizing the bankruptcy.
If something is still showing as due and owing, that debtor wants to send a copy of the discharge to the creditor and to the credit bureau within no disputing the validity of the debt. The credit bureau then has a duty to contact the creditor who has got the item listed on the credit report to verify the validity of the debt. If the credit bureau does not receive verification that the debt is accurate within 30 days, the information must be removed from the credit report. This removal from the credit report will cause the debtor’s credit score to increase. So after the bankruptcy case is over, do not expect as a debtor that everything on your credit report is going to look clean. You have an obligation as a debtor to make sure that your own credit report is up to date and that the information contained in it is accurate. This is true even if you file under other types of bankruptcy.
Now, getting a credit report is very easy these days. The federal government has made it possible under www.annualcreditreport.com to receive a copy of your credit report, all three actually; once per year. Now, you can either pull all three credit reports once per year or you can pull one every four months so that throughout the course of the year you are getting a bird’s eye view of one of the three credit bureaus to make sure they are accurate. It’s a good idea to do this so that you can be vigilant in case of identity theft or if there is any negative information showing up on your credit report which could obviously affect your credit score and it will affect the cost of credit in the future. Thus, after you file bankruptcy, you need to stay aware of what it going on with your credit report.