Since bankruptcy filing is public information, people can have access to it. This is a major point of concern for bankruptcy filers as it hampers their chance of getting a loan or even a decent job. Though the information is entered in your credit report, any discharge granted for the bankruptcy should also be mentioned on the credit report. Many times as per the Los Angeles based bankruptcy law firm Recovery Law Group lawyers, the information is not updated on credit reports. This is a cause of worry for people who wish to start their life afresh but can’t. since bankruptcy is quite emotionally draining, people often are confused as to what should be done to get their credit reports updated. Here are some basic facts that can help you sort out things.
- Bankruptcy becomes public record and is displayed in the credit report.
- All accounts included in the bankruptcy should indicate the status discharged once you have completed your bankruptcy chapter.
- You can verify the same by getting a copy of your credit report from the official website.
- In case your bankruptcy discharge information is not reflected in your credit report, immediate action must be taken to get the same updated. This can be done by sending a copy of your bankruptcy Schedule A, Schedule D or Schedule F which lists all the debts included in a bankruptcy, a copy of the documentation for proof that bankruptcy has been discharged as well as the statement to update bankruptcy information. The information can be uploaded online or sent via mail at the address mentioned on the credit report.
- The courts can also be contacted to verify the bankruptcy discharge.
However, it is important to know that the discharge date will not affect when the bankruptcy information is deleted from the credit report. Bankruptcy is mentioned on your credit report for a specified period, which is seven years in the case of Chapter 13 and ten years in case of Chapter 7 bankruptcy Los Angeles. The accounts which were included in bankruptcy are also displayed along with their status. These accounts are deleted 7 years from the original delinquency date, which is generally prior to bankruptcy public records. For further information regarding bankruptcy, you can call at 888-297-6023 to speak with experienced bankruptcy lawyers.