How Ordering Your Credit Report Can Help You in Bankruptcy
Our firm recommends that each of our clients filing for bankruptcy obtain a credit report for the reasons listed below. If you are married, we recommend obtaining credit reports for both you and your spouse. Not every creditor reports debts to a credit bureau, so your credit report will not list all debts. You should be sure to let your attorney know about all debts you are aware of.
You will receive a printed copy of the report in the mail for your review.
1. Obtaining the credit report helps us get accurate creditor names, addresses, types of debt, balances due, and account numbers.
2. Through your credit report, we may find creditors whom you have overlooked. For a debt to be discharged, it must be listed in your bankruptcy pleadings, so it’s important that we find out about all debts.
3. Credit reports can alert us to judgments against you.
4. Credit reports can alert us to liens against your property, and the need to seek lien avoidance under §522(f), thus helping you protect your property in some cases.
5. We may find out about co-signers to some of your debts, which are important to list in a bankruptcy.
6. If you are married, there may be surprising items on your credit report or your spouse’s, and the reports can help us determine whether you should file individually or jointly.
7. We may find out about debts created by a former spouse, who may have forged your signature to obtain credit.
8. Credit reports can alert us to mistakes on your credit record. The report will list the names and addresses of all three major credit bureaus whom you can contact to correct any mistakes or provide updated information.
9. Credit reports often contain the names and addresses of collection agencies representing creditors, and we can notify these collection agencies about the bankruptcy so that collection efforts stop.
10. If the IRS has a tax lien on your property, the credit report will alert us so that it can be dealt with properly.
11. Knowing what is on your credit report can help you get credit approval for important purchases after your debts are discharged.
Absolutely Free Credit Reports
AnnualCreditReport.com is the ONLY authorized source to get your free annual credit reports under federal law. The Fair Credit Reporting Act guarantees you access to one free credit report every twelve months from each of the three nationwide reporting agencies: Experian, Equifax, and TransUnion . You can request your free report online, by phone or by mail. Visit AnnualCreditReport.com call 1-877-322-8228. No matter how you request your report, you have the option to request all three reports at once or to order one report at a time.
TheNew York Times reports that the Federal Trade Commission is concerned that some sites, like Experian owned FreeCreditReport.com, uses the offer of free credit reports to lure customers to pay a $14.95 monthly service that alerts subscribers to important changes in their credit status. The Times also reports that 9 million people are spending a total of $650 to $700 million annually on Experian’s credit reporting services.
Unlike other “free” credit report services,AnnualCreditReport.com is entirely free for your credit reports. NO CREDIT CARD NEEDED! If you want your credit score, it is available for a modest extra charge.
Make sure that free means free.The FTC wants to ensure consumers aren’t paying for credit reports that are available for free.