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Bankruptcy Credit Report - It's Important to Get Your Credit Report for Bankruptcy
Check your Bankruptcy Credit Report before filing bankruptcy to make sure you have properly listed all your debts and creditors that are reported on you. Generally in addition to listing all items from your credit report in your personal bankruptcy, you would also list any other items you know exist that may not be on your credit report. For example, if you have a collection that is not on your credit report, but which you know exists, list it also in the bankruptcy filing.
Including all items on your credit report for bankruptcy may also help you to make sure your credit report is accurate after your bankruptcy. That means after bankruptcy, you will want to check your credit report again to make sure the items on your credit report have been properly reflected as a result of your bankruptcy. Items discharged in bankruptcy should eventually show a zero balance on your credit report.
A bankruptcy can stay on your credit report as long as 10 years under Federal law. Items or individual accounts discharged in bankruptcy would normally only stay on your credit report for 7 years even though they have zero balances.
Credit Report for Bankruptcy - Questions?
Q. If my wife is also filing for bankruptcy, should she get a credit report?
A. Your wife may have individual credit that shows only in her credit report. So yes it is advisable for her to get her report also.
Q. Is it necessary to get a credit report for bankruptcy from all three credit bureaus?
A. We recommend you get your report from all three credit bureaus because there is a good chance the bureaus will have slightly different information in their reports for you. Also in a legal proceeding such as bankruptcy, you will want to be as thorough as possible in accurately listing your debts, so all three bureaus is important in your credit report for bankruptcy.
Q. Where do I get my credit report for free?
A. Your are entitled to a free credit report each year from each of the 3 bureaus. You get them at AnnualCreditReport.com1. You would get reports from each of the bureaus. You can get your report online, by mail, or there is even a telephone number on their site.
Q. Where else can I get a bankruptcy credit report from all 3 bureaus?
A. As part of a subscription to credit report monitoring, you can get a 3 bureau credit report that is updated quarterly as part of the ongoing monitoring service that includes daily updated alerts to changes in important information in your credit report from all three credit agencies.
Q. What if my credit report does not include all my debts?
A. That's an attorney question, but in general credit reports cannot be guaranteed to include all your credit debt history, just the debts that are reported about you.
Q. How long does it take for my credit report to be updated after my bankruptcy is discharged?
A.
Obviously there will be a lag after your bankruptcy is discharged for the credit bureaus to update you credit files. If you feel too long goes by without an update, it is recommended to provide the credit bureaus with a copy of your bankruptcy discharge requesting the new information be incorporated into your report.