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How Ordering Your Credit Report Can Help You in Bankruptcy

Our firm recommends that each of our clients filing for bankruptcy obtain a credit report for the reasons listed below. If you are married, we recommend obtaining credit reports for both you and your spouse.

You will receive a printed copy of the report in by email or U. S. mail for your review.

  1. Obtaining the credit report helps us get accurate creditor names, addresses, types of debt, balances due, and account numbers.
  2. Through your credit report, we may find creditors whom you have overlooked. For a debt to be discharged, it must be listed in your bankruptcy pleadings, so it’s important that we find out about all debts.
  3. Credit reports can alert us to judgments against you.
  4. Credit reports can alert us to liens against your property, and the need to seek lien avoidance under §522(f), thus helping you protect your property in some cases.
  5. We may find out about co-signers to some of your debts, which are important to list in a bankruptcy.
  6. If you are married, there may be surprising items on your credit report or your spouse’s, and the reports can help us determine whether you should file individually or jointly.
  7. We may find out about debts created by a former spouse, who may have forged your signature to obtain credit.
  8. Credit reports can alert us to mistakes on your credit record. The report will list the names and addresses of all three major credit bureaus whom you can contact to correct any mistakes or provide updated information.
  9. Credit reports often contain the names and addresses of collection agencies representing creditors, and we can notify these collection agencies about the bankruptcy so that collection efforts stop.
  10. If the IRS has a tax lien on your property, the credit report will alert us so that it can be dealt with properly.
  11. Knowing what is on your credit report can help you get credit approval for important purchases after your debts are discharged.

*Not every creditor reports debts to a credit bureau, so your credit report will not list all debts. You should be sure to let your attorney know about all debts you are aware of.

What Happens Post-Bankruptcy?

Contrary to public belief, filing for bankruptcy does NOT ruin your credit indefinitely. Actually, it will depend on the chapter you filed. For more information about Chapter 7 Bankruptcy or Chapter 13 Bankruptcy, click the links below.

  • Chapter 7 Bankruptcy is eliminated from your credit report 10 years from the filing date.
  • Chapter 13 Bankruptcy is eliminated from your credit report 7 years from the filing date.

In the meantime, there are a multitude of ways to help monitor and increase your credit score. Obtaining a secured loan is one way while improving your payment history by using a credit card over a number of years is just as effective. Your credit score may increase after the bankruptcy filing is removed from your credit report. Our Attorneys at Davis & Williams have an extensive track record of satisfying clients who inquire about their options for Bankruptcy filing. Contact Us today for a Free Consultation.

Client Reviews
★★★★★
The services that the firm provided during my bankruptcy case was outstanding. L Moore
★★★★★
Your firm did a great job in handling my case. I will definitely refer my friends to your firm. Jennifer H
★★★★★
Your firm reduced my stress. I have no complaints. Thank you so much Sandra P
★★★★★
When I was forced to file bankruptcy. Your firm turned a stressful situation into a great experience. I am forever grateful. L Miles
★★★★★
You did an outstanding job of representing me. I was afraid I was going to lose everything. However, the bankruptcy restored my peace. Thank you so much. T Coleman