A 2012 study by the Federal Trade Commission found that one in four consumers identified errors on their credit reports that may have affected their credit scores. Regularly checking credit reports can help consumers discover and dispute any errors that may reduce a score and cause a creditor to deny an application for credit.
After bankruptcy, former debtors should regularly check their credit reports to ensure the following:
- Any accounts discharged in bankruptcy are reported as “discharged.”
- Any accounts discharged in bankruptcy have a $0 balance.
- The bankruptcy filing date is correct. This is important because a bankruptcy remains on a credit report for up to 10 years from this date, thus the accuracy of the filing date is crucial.
A fundamental goal of the federal bankruptcy laws is to provide debtors with a financial “fresh start,” so they may begin life anew. A bankruptcy discharge releases or “discharges” debtors from personal liability for most debts. The Law Office of Todd Cushner & Associates, P.C. may help anyone get a fresh start and obtain a discharge in bankruptcy of most, if not all, of their debts. Call Todd S. Cushner directly at (914) 600- 5502 for a free consultation. The Law Office of Todd Cushner & Associates, P.C. offers extensive knowledge, expertise, and experience to anyone considering and contemplating bankruptcy.
