What happens to a creditor write off on your credit report when you file chapter 7 bankruptcy?
I have a lot of write offs on my credit report due to losing a job etc. After filing chapter 7 am I gonna be able to rebuild my credit wisely and start over… or am i screwed I need hope.
peace
Posted August 27th, 2010 in Bankruptcy Q And A. Tagged: credit report, filing chapter 7, losing a job, peace.
You can use this credit monitoring service to pre-estimate future scores for different scenarios of such payments – buildcredit.ifastnet.com
August 27th, 2010 at 5:10 pmAll the accounts you included in the bankruptcy filing will appear on your credit reports as having zero balances and a notation they were included in bankruptcy filing,
If they aren’t dispute them with the credit bureau sayin they were included in bankruptcy,
As long as you’ve corrected the problem that forced you into bankruptcy, and as long as you stay out of debt, within a couple years your credit will start to improve.
No two people are the same and YMMV,
August 27th, 2010 at 5:10 pmMost of your creditors will report to the credit bureaus that your account was a write-off, some will include that you filed bankruptcy.
August 27th, 2010 at 5:10 pmBut take hope. Get your finances in order, and by that time credit will be loosening up.
But try to have a big amount of financial discipline and don’t buy things you can’t afford, and usually don’t need.
Good luck.