Credit Repair After Bankruptcy - Credit repair after bankruptcy poses a special problem with regard to credit reporting. A substantial amount of bankruptcy information is inaccurate or outdated.
Typical examples of incorrect bankruptcy information appearing on credit reports include the indication that both spouses have filed for bankruptcy when only one has filed, this is because the non-filing spouse has included their social security number in the petition or where one or more of the debts may be a joint debt but only one spouse is filing for bankruptcy.
Often business bankruptcy is mistaken for personal bankruptcy. Sometimes bankruptcy petitions are dismissed which means that there is no longer a pending bankruptcy. Sometimes Chapter 13 cases are converted to Chapter 7 cases. Credit bureaus do a poor job of keeping track of this information and negative information may remain on the credit report longer than it has to if not disputed. Further credit repair after bankruptcy may involve correcting misdesignated accounts as being "included in bankruptcy" when they were not or referencing the proper debtors or Chapter of the bankruptcy code. |
