Bankruptcy clients are frequently surprised and/or alarmed when they review their credit reports after receiving their Bankruptcy Discharge and note that discharged debts sometimes still appear as open obligations on said reports.
There is a widespread, but mistaken, belief that the Credit Reporting Agencies are somehow directly affiliated with the Bankruptcy system and have direct and immediate access to everything that occurs in your bankruptcy case.
Nothing could be further from the truth, as these Credit Reporting Agencies are private companies with no formal relationship whatsoever with the Bankruptcy system.
The credit reporting agencies are aware that you filed for bankruptcy, but they do not know which debts you listed on your petition. Creditors are supposed to advise the credit reporting agencies when their debts get discharged. Some creditors do this and some do not, which often results in discharged debts still appearing as unresolved on your credit report. To insure that your credit reports are as accurate as possible after you receive your Discharge, it is recommended that you forward to the three credit reporting agencies listed below a copy of your:
(1) Discharge of Debtor and Order of Final Decree
(2) Notice of Bankruptcy Case Filing (attached to the front of your petition)
(3) Schedules “D”, “E” and “F” of your bankruptcy petition, together with any amendments of said schedules
PO Box 2104
Allen, TX 75013
|Equifax Information Services
PO Box 105873
Atlanta, GA 30348
PO Box 1000
Chester, PA 19022
It is not your Bankruptcy Attorney’s job to clean up your credit report, unless you specifically hire him to do so. You can certainly take the above steps yourself, thereby saving the expense of additional attorneys’ fees.