Credit Reporting AFTER Bankruptcy
According to Commentary to the Fair Credit Reporting Act, (FCRA), a debt discharged in bankruptcy must be listed as having a zero balance, reflecting that the consumer is no longer liable for the debt. (See FTC OSC section 607, item 6).
8 Common Errors to Look for on Your Credit Report AFTER Bankruptcy1. Not reporting a payment history for loans you reaffirmed;
2. Continuing to report a balance due;
3. Reporting a discharged debt as "charged off";
4. Wrong date reported for the bankruptcy filing;
5. Mistaken identity, (a spouse or family member shows a bankruptcy when they did NOT file for bankruptcy);
6. Wrong delinquency date or DLA (date of last activity) after your bankruptcy filing;
7. Wrong bankruptcy date filed, wrong chapter filed, date reported, or wrong payment plan amount;
8. Debt was sold to debt buyer or debt collector who is still listing it as a derogatory account rather than discharged in bankruptcy.
ConclusionIn sum, filing bankruptcy protects you against collection of debts that were discharged. Bankruptcy also protects you against inaccurate reporting of discharged debts as noted above. If you see errors on your credit report post-bankruptcy, contact an FCRA lawyer in your area for a consultation.