Your having to go through bankruptcy court proceedings was unlikely your proudest moment. This is why you may be relieved when your case is closed and you can finally put this ugly event behind you. But most unfortunately, this incident may follow you for years to come. This is because it can and will be featured on your credit report. So, with that being said, please continue reading to learn how to remove a bankruptcy incident from your credit report and how an experienced Louisville, Kentucky consumer bankruptcy lawyer at Schwartz Bankruptcy Law Center can help you make the most out of this situation.
How can I remove a bankruptcy case from my credit report?
Well, you cannot exactly remove your previously filed bankruptcy case from your credit report; that is, until a set amount of time has passed. Specifically, your Chapter 7 bankruptcy case will be automatically cleared from your credit report after 10 years from the date you filed, while Chapter 13 bankruptcy will be lifted after seven years. From here, the Fair Credit Reporting Act holds that credit reporting agencies cannot disclose your bankruptcy case once this 10- or seven-year mark is reached.
Therefore, the only thing you can do at this time is fight to remove inaccurate or incomplete information regarding your bankruptcy case on your credit report. More specific examples of when you should file a dispute letter with the credit reporting agencies include the following:
- Your credit report discloses an inaccurate original filing date for your Chapter 7 or 13 bankruptcy.
- Your credit report discloses an inaccurate discharge date for your Chapter 7 or 13 bankruptcy.
- Your credit report discloses your filing for Chapter 7 bankruptcy when you filed for Chapter 13, or vice versa.
- Your credit report discloses that your spouse filed for Chapter 7 or 13 bankruptcy when they did not.
- Your credit report discloses that you have a delinquent account or outstanding debt when you do not.
- Your credit report discloses that your mortgage was discharged in bankruptcy when it was reaffirmed.
How can I improve my credit score in the meantime?
You may feel hopeless about having to wait around for seven to 10 years to pass until your bankruptcy case gets eliminated from your credit report. However, there are ways you can be productive in the meantime and build up your credit score as much as possible. Examples of this are as follows:
- You may continue to pay your monthly bills on time and in full.
- You may apply for a credit builder and make payments on time and in full.
- You may apply for a secured credit card and pay its balance on time and in full.
- You may ask your loved one to be an authorized user on one of their credit cards.
This blog is just the tip of the iceberg when it comes to bankruptcy laws in the state of Kentucky. So for more information, please reach out to a skilled Louisville, Kentucky consumer bankruptcy lawyer from Schwartz Bankruptcy Law Center today.
