One of the things I like to do as a Mokena bankruptcy attorney is encourage my clients to pull a copy of their credit report after their bankruptcy case has completed. If that credit report contains negative information that should have been removed after the bankruptcy court, I recommend my clients do the following: they can send a copy of their discharge order to the three credit bureaus and to the individual creditor. The credit bureau is going to seek confirmation of the debt from the creditor. If the creditor does not respond back within 30 days verifying the debt, then that information has to be removed from the credit report. By staying vigilant and by observing your credit report on a regular basis, you can help keep your credit score up, which will affect the amount you pay for credit in the future. This is the type of helpful bankruptcy advice that you will not get from most attorneys.
I like to provide my clients with information with information to be successful after their bankruptcy case. I don’t want to see a client come back into my office shortly after I help them and hear that they’re back in debt. Although you can file a bankruptcy court under Chapter 7 every 8 years, I want my clients to only file the one bankruptcy case that I’m helping them with. I like to provide financial information in terms of good spending, budgeting, good purchasing, and common sense solutions to financial problems so that you never run into debt again. If you are someone who got into trouble because you didn’t have medical insurance and you had some sort of illness, I want to see you get some type of catastrophic medical coverage so that you don’t wind up filing Chapter 7 bankruptcy again due to an illness or an injury. If you are someone who got into trouble based on overcharging on the credit cards, I want you to go on a cash basis for the next year or two before you even think of getting a card. And when you do think of getting a credit card, I would like you to start with a secured credit card. A secured credit card is where you put a certain dollar amount in a bank account – for example, $250.00 – and then you have charging privileges of up to $250.00. Now, mind you, you are charging your own money that you have on account, but you have the convenience of plastic, and the bank is reporting that credit as good credit to the credit bureaus. Eventually, that secured credit card will turn into an unsecured credit card. At that point you should have an advantage that you’ll be wide with credit and you will not be seeking to acquire several credit cards in the future where you can possibly get into problems again.
The above information can be found in a bankruptcy book by David M. Siegel entitled, Chapter 7 Success.