Expert: Regan Shinski - 6/6/2011

Question
I filed chapter 7 and it was discharged in May 2010.   I included my credit cards in the bankruptcy.  My credit report is stating that the accounts are charged off and still have balances?  Isnt this a violation of the bankruptcy code?

Answer
Yes.  They should be reported as included in the bankruptcy with a zero balance.  However, this does not immediately mean you have a lawsuit and can sue for big dollars.  Realistically, you must put them on notice and give them a chance to correct it.  This is done by disputing the accounts directly with the credit bureaus.  If they still are in error after a dispute or two, further legal action (and damages) may be pursued.

There is risk in doing this.  If you dispute and say they should be included in the bankruptcy, you reduce your risk of DELETING the accounts completely down the line.  (If you admit they are included in the bankruptcy now, how can you say they should be deleted in the future?)  A better option is to fight for a complete deletion right now.  This process is more involved and difficult to get into in this forum.  You could try a simple dispute as "not mine as reported" or something similar.  This is true and does not lock you into a position that limits your options in the future.

A better option may be to use professional credit repair.  As mentioned above, serious damage can be done by messing with your credit disputes if you do not know what you are doing.  These mistakes can lock you into bad credit for seven years or more, with little chance of repair before then.  Don't make this mistake!  At least contact me through my website at www.ficofighter.com before you go too far in this process.

Thanks and good luck in whatever path you choose.  I hope this makes sense and feel free to write again with any questions.

Thanks,
Regan

DELETE BAD CREDIT AND BANKRUPTCY - SEE PROOF at www.ficofighter.com