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Reviewing your credit report after a bankruptcy is very important. You filed for bankruptcy because you needed a fresh start and your credit report should reflect all accounts included in the bankruptcy. After bankruptcy, you debts should be shown as zero and paid off, although the record of the bankruptcy is still there. This is a sort of balance which is positive on one side, and negative on the other. Generally, your ability to pay off a debt is increased after bankruptcy due to the absence of other debts. After a period of 10 years has expired, a bankruptcy can be written off your credit record.
Accurate Credit Reports after bankruptcy
This is extremely important. You would be surprised to learn that many individuals after bankruptcy still have credit reports that show outstanding debts. Whether due to laziness or carelessness, credit agencies often keep inaccurate information about your debts on their records. This misinformation will most definitely ensure that you never get any credit from anyone again.
To avoid this it is recommended that you request a free credit report within 30 to 60 days after your bankruptcy is complete and review it over the next several months. If you still have unpaid debts on your credit report you need to work with the creditor to update your credit report.
I am debating over filing bankruptcy or not. Do you know of a good service that can settle debt and help me avoid bankruptcy?
I need my credit repaired and my debt is more than i can handle after losing my job. Would my best option be to file bankruptcy or get someone to helpme fix my credit? And what all can be done when credit is being fixed or repaired?