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Credit Reporting During and After Bankruptcy

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Credit Reporting During and After Bankruptcy

Have you wondered what will happen to your credit report during and after your bankruptcy? When you’re working with a bankruptcy attorney at Sawin & Shea, one of the services we offer is reviewing your credit report.

Here’s why we do so and why it will be a huge help to you. And good news – it comes at no charge and is just part of the services we offer.


Your Credit Report as Part of Your Bankruptcy

After your Chapter 7 bankruptcy discharge or Chapter 13 bankruptcy period, your bankruptcy attorney will request permission to pull and review your credit report. For Chapter 13, this may occur after your case has been confirmed and approved by the court even if your bankruptcy is not yet over.

Your attorney does this to ensure that the creditors listed as part of your bankruptcy are reporting your debts properly. We want to see for ourselves whether your credit report shows how your debts were treated in your bankruptcy case.

If you opted for Chapter 13 bankruptcy, we’ll be checking to see if you’re getting credit for all the payments you’re making. It’s a way to make sure that you’re receiving the full benefits of your bankruptcy.

We’re Making Sure Creditors Follow the Law

Please don’t take offense at your bankruptcy attorney looking through your credit report because it’s truly in your own best interests. We want to make sure your creditors are in compliance with the law and are respecting the terms of your bankruptcy.

Plus, it can be arduous for an individual to review all versions of their credit report themselves. In addition to the well-known credit bureaus like Equifax, Experian, and TransUnion, there are also others that could impact you.

For example, someone who has had a bank account overdraft in the past may have a credit history with Telecheck, Early Warning Services, and Chexsystem. These are the agencies credit unions and banks use.

Sometimes, as we review our clients’ credit reports, we notice that a certain creditor is continuing to report negatively in violation of the bankruptcy terms. Or they may incorrectly report a debt as not discharged.

If we detect a problem like this, we will help you take steps to get it fixed. We will assist you with sending challenge letters to the credit reporting agencies, which starts a dispute process to clear up your credit report.

If They Break the Rules, You Can Make Them Pay

In some cases, creditors dig in their heels and refuse to correct improper information. Or they simply ignore your requests to fix it. If this happens, we will put the law to work for you and hold them accountable for their failure to follow the rules.

We can look at putting a lawsuit on file and pursuing them for damages. The law allows you to recover monetary compensation for emotional duress, financial harm, and other harms that may have been caused by improper credit reporting during and after bankruptcy.

This is one of the benefits of hiring a bankruptcy attorney who’s always on the lookout. We know the games creditors play and we also know how to beat them at their own game – by understanding and upholding the law.

Sawin & Shea—Indianapolis Bankruptcy Attorneys

Filing for bankruptcy is not the end. It’s the beginning of a new financial life for you. The Indiana bankruptcy attorneys at Sawin & Shea can help you get rid of overwhelming debt and advise you on life after bankruptcy. We are here for you during this life-changing process.

Please do not hesitate to call us today at (317) 759-1483 or send an email for a free consultation. We are ready to help.

Video Transcript:
Good afternoon. This is Richard Shea with Sawin & Shea. Today’s information is really about credit reporting during and after your bankruptcy. One of the services our firm provides is that after your Chapter 7 bankruptcy discharge or during your Chapter 13 bankruptcy after your case has been confirmed and approved by the court we are going to request permission to pull and review your credit reports. 
We do this because we are looking to make sure that the creditors that are listed in part of your bankruptcy are properly showing up their debt as A, being either discharged or a debt being reaffirmed, or if a debt is being paid for through a Chapter 13 bankruptcy that you are getting credit for the payments that you are making. This service is no charge. We want to review these to make sure that you are receiving the benefit of your bankruptcy and that creditors are actually in compliance with the law. 
If a creditor continued to report negatively on your credit report after your discharge, or reports a debt as not discharged, or not giving you credit for the payments on a reaffirmed debt or a debt that’s being paid for through your bankruptcy, we will help you send challenge letters to those credit reporting agencies to start the dispute process. 
 If the creditors refuse to correct that improper information, we can look at putting a lawsuit on file and pursuing them for damages, where you can recover monetary damages for emotional duress, for actual damages and other harms that may have been caused by this improper credit reporting. 
We’re here to help you. If you have a question please give us a call, 317-255-2600.

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