Tampa Bankruptcy and Your Credit History

After Tampa bankruptcy, certain debts will remain on your credit history for a while. The generally-accepted time frame is ten years for the information relating to your bankruptcy to be reported on your credit history. Here’s how to determine whether the information in your credit history is being accurately reported.

Credit History: Ensure Accuracy

The information relating to your bankruptcy can be reported on for ten years. In some cases, the bankruptcy information actually looks better on the credit history than a collection of past due and delinquent loans would look to a potential lender. At the very least, the bankruptcy information shows that you, the consumer, took positive action to obtain a fresh start instead of letting your loan obligations languish forever.

These debts should be reported on your credit history as having no remaining balance, and as having been discharged in bankruptcy. Where things can get tricky is in the way a creditor reports the debt to the credit bureau. Under the law, the creditor must report the debt as discharged and not as delinquent or active in any way shape or form. Yet many creditors still report the debts this way, complicating your credit history picture and practically ensuring that you do not get fair treatment when it comes to applying for new credit after bankruptcy.

Always check your credit history to ensure that it is being accurately reported. Paying attention and taking control of your financial future will help ensure future success.


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