After Your Bankruptcy: How to have a fresh start?
The Discharge Order can be a fresh start after bankruptcy, although you need to review your credit report about 60-90 days after your bankruptcy is Discharged. Through the www.annualcreditreport.com site you can order your credit reports. Consumers are entitled to a free credit report every year or when a negative decision is made by a creditor relying on a credit report. The three main reporting agencies are: Equifax, Experian, and Transunion. If you are married and filed a joint bankruptcy, each of the spouses must request their own reports.
Telecheck, Early Warning Services, and Chexsystem are the agencies that banks and credit unions rely on when the bank or credit union is making a decision about whether you can open an account with them. These agencies are not part of the www.annualcreditreport.com site so you can request a report from them.
If any of your creditors is still listing a balance, then the next step is for you to dispute the report of that creditor. The Federal Trade Commission offers a sample letter to consumers who need to dispute.
When a consumer disputes something on a credit report, the agency must investigate the dispute. The creditor can either verify the accuracy, update or remove the information. The credit reporting agency has deadlines for their response to go back to the consumer.
Now it’s time for a new budget, call us at 215-348-8003 to set up an appointment – it’s FREE!