Your credit report plays an important role in your ability to get credit and, sometimes even more importantly, the interest rates you are offered. High-interest rates can make it hard to build or rebuild your credit, so an accurate credit report is very important.
At John T. Turco & Associates in Omaha, our experienced bankruptcy lawyers often come across credit reporting concerns. We can explain credit reporting practice and we can explain all of your options.
Examining Your Report During Bankruptcy
If you choose to file for bankruptcy, our firm will pull your credit report as part of our comprehensive research into your financial situation. We will be happy to show your report to you so you can know who is claiming you owe them money, and so you can explain to us any unexpected items on the report.
If there are debts on your credit report that you do not believe you owe, we will include them in your bankruptcy filing so they can get discharged and removed from your report if eligible.
After your bankruptcy case is completed, it is always a good idea to pull your credit reports again in order to make sure all the discharged debts have been removed. If you apply for credit again in the future, having your discharged debts cleared from your credit report should partially compensate for the fact that your bankruptcy will appear on the report.
Explaining Your Rights to Dispute Reported Debts
Credit reporting agencies and creditors have an obligation to tell the truth. If there is inaccurate information on your credit report, you have a right to get it removed. The Fair Credit Reporting Act (FCRA) is the federal law that governs this process.
If you decide not to file for bankruptcy, we will help you understand your options for disputing items on your credit report so that you can make sure the only debts that are being reported are the ones that you actually owe.
Contact us to speak to one of our experienced bankruptcy lawyers or to arrange a free initial consultation. If you cannot come to our Omaha offices, we can consult with you by telephone.