How to Remove Bankruptcies?

Bankruptcy has a significant and lasting impact on your credit. Chapter 7 bankruptcy remains on your credit report for up to 10 years, while Chapter 13 lingers for seven years. During this period, obtaining new credit may be challenging, and if approved, interest rates are likely to be higher. Lenders perceive you as a higher risk. Rebuilding credit post-bankruptcy involves responsible financial habits like timely payments, budgeting, and cautious credit use.

Over time, positive actions can mitigate the negative effects of bankruptcy on your credit, but what happens when the bankruptcy is wrongfully reported? Some credit bureaus continue to report bankruptcy after the time frame is over, while others might post information on your report about someone else’s bankruptcy altogether.

If you are in this situation, never hesitate to discuss your options for removing bankruptcy with a Florida consumer rights attorney.

Removing a Wrongful Bankruptcy

Having a wrongful bankruptcy on your credit report can be a distressing situation, and it's crucial to take steps to rectify the error right away.

First, obtain a copy of your credit report from each of the major credit bureaus (Equifax, Experian, and TransUnion) to verify the inaccuracies. Once identified, gather evidence to support your claim, such as court documents proving no bankruptcy was filed or any correspondence indicating the error. Working through these dispute companies is free for you, and they will pay to remove wrongful bankruptcy’s.

Next, contact the credit reporting agencies in writing. Doing so through their online dispute systems is quicker and more convenient than writing a letter. Look at the following:

Clearly explain the wrongful inclusion of the bankruptcy and provide the supporting evidence. Include your personal information, the specific error, and a concise explanation of why it is incorrect. Request a thorough investigation and removal of the inaccurate entry.

Simultaneously, notify the entity responsible for reporting the erroneous bankruptcy, which could be a creditor or a court. Provide them with the same evidence and request that they correct their records and notify the credit bureaus of the mistake.

Be persistent and maintain thorough documentation of all communications. Follow up regularly with both the credit reporting agencies and the entity responsible for the error. Keep records of correspondence, including dates, names of representatives, and any reference numbers.

If the issue persists, you should seek legal advice or assistance from our law firm, completely free of charge. We can provide guidance on the best course of action and help escalate the matter if necessary.

Once the wrongful bankruptcy is removed from your credit report, monitor your credit regularly to ensure it has been corrected. Be vigilant about any further discrepancies and take prompt action to address them.

Learn How a Florida Credit Reporting Attorney Can Help

Dealing with credit reporting errors can be stressful, especially when the error is something as significant as a wrongful bankruptcy. It may take time to fully resolve the issue, but with diligence and the right legal assistance, you can successfully have a wrongful bankruptcy removed from your credit and restore your financial standing.

The Law Offices of Jibrael S. Hindi is ready to help you challenge bankruptcies on your credit report, so please contact us today for a free consultation.