How to Correct Bankruptcy Entries On Your Credit Report

by
Richard Fonfrias, J.D.
Chicago's Financial Rescue & Bankruptcy Lawyer
Fonfrias Law Group, LLC


Credit reports are often wrong, so make sure you frequently review your credit profile and dispute any entries that are not correct. After bankruptcy, credit repair should be a top priority. It is never too soon to start working to building back your credit score.

In most cases, each account that you list in your bankruptcy will say �included in bankruptcy� and show a $0 balance. The account should not appear as open, past due or closed. Even so, some accounts may be listed incorrectly after you have included them in your bankruptcy.

Start by getting a copy of your credit reports from each of the three major credit reporting agencies. Go over your credit reports carefully to see which, if any, of the accounts is listed incorrectly.

If you find an open or past-due account that was actually discharged in bankruptcy, then you should dispute the incorrect entry.

Send each credit bureau a copy of the credit report showing the incorrect entry, along with a copy of the bankruptcy court's Order of Discharge. This will show the credit bureau that the account showing past-due on your credit report was included in the bankruptcy court's order.

When the credit bureaus receive your letter, they will forward your documents to the creditor so it can either correct the listing or challenge your dispute. In most cases, the creditor will simply update your account information showing that it was discharged in bankruptcy and return the correct information it to the credit bureaus.

If you have both a bankruptcy and delinquent accounts on your credit report, the negative impact on your credit score will be greater than having a bankruptcy alone. So make sure you correct inaccurate listings, which will help you re-establish credit after your bankruptcy.

You can get a free copy of each bureau's credit report once every year at AnnualCreditReport.com. You can learn more about correcting your credit reports at FTC Facts for Consumers: How to Dispute Credit Report Errors.

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"If you have questions about bankruptcy, foreclosure, credit card debt, loan modifications, tax liens or other financial problems, please send your e-mail today to rich@chicagomoneylawyer.com or call 312-969-0730." -- Rich


Richard Fonfrias, J.D.
Chicago's Financial Rescue & Bankruptcy Lawyer
Money problems solved. Peace of mind protected.

Founder & Managing Partner
Fonfrias Law Group, LLC
First National Plaza - 70 West Madison Street, Suite 1400 - Chicago, Illinois 60602
Telephone 312-969-0730 - Facsimile 312-624-7954 - www.chicagomoneylawyer.com

E-mail rich@chicagomoneylawyer.com

Chicago financial rescue and bankruptcy lawyer Rich Fonfrias of the Fonfrias Law Group, serves clients with serious financial problems in the Chicago area and across Illinois. . An experience Chicago bankruptcy attorney, Richard Fonfrias offers a wide range of financial legal services, including bankruptcy, credit repair, financial rescue, loan modification, tax reduction and tax lien services. To take control of their finances, consult with Chicago bankruptcy attorney Richard Fonfrias. He specializes in financial law and is experienced in all aspects of bankruptcy law and mortgage repair. "If you have questions about bankruptcy, foreclosure, credit card debt, loan modifications, tax liens or other financial problems, please send your e-mail today to rich@chicagomoneylawyer.com or call 312-969-0730." -- Rich