Bankruptcy can help people get rid of debt but may leave them with the worry of what to do about getting their credit back after filing. A bankruptcy filing can have a terrible impact on a person’s credit report. The ability to get post bankruptcy credit or renegotiate the terms of any bankruptcy discharge can be significantly hampered.
However, you can have bankruptcy removed from your credit report if your circumstances allow it. Generally, with time, bankruptcy will be eliminated from your report, but in other circumstances, you might need to take more proactive steps. One such measure is engaging the services of a bankruptcy reporting error lawyer in Mississippi.
At Ware Law Firm, we can help you dispute inaccurate information and take your life back. Call today for a free consultation.
Credit Report Errors are More Common Than You Think
Credit errors are nothing to be embarrassed about. In reality, mistakes on credit reports are common. According to a 2013 Federal Trade Commission research, 13% of consumers had inaccuracies that impacted their credit scores, while 5% of consumers had substantial problems resulting in credit denial or higher credit costs. About 21% of individuals had confirmed credit reporting errors.
FCRA Regulations Hold Credit Reporting Agencies Responsible for Credit Reporting Errors
Federal legislation known as the Fair Credit Reporting Act (FCRA) was created to guarantee that customers receive fair treatment regarding their credit reports. Under the FCRA, consumers have specific rights.
Information from the past might not be reported. Specifically, a credit reporting agency typically cannot include negative information older than seven years and ten years for bankruptcies. It can be definitively said that a bankruptcy filing should not still be reflected on your credit report if ten years have elapsed. Don’t delay contacting a bankruptcy reporting error lawyer in Mississippi if bankruptcy is being erroneously reflected on your credit reports. We’ll handle the credit bureau for you.