The first thing you may realize after filing bankruptcy, is that life is far from over. The next thing you may realize after filing bankruptcy, is that some of the creditors may not understand that the debt has been discharged and will still contact you for payment. As soon as you file bankruptcy, you are granted an automatic stay.
This means that all creditors are barred from contacting or attempting to collect any debt from you. The automatic stay may also stop foreclosure proceedings and force creditors to return repossessed property. After the bankruptcy is discharged, you no longer owe the debt and you would think phone calls and harassing letters would be well behind you. The problem occurs most often when a debt is sold over and over again to different collection agencies. Some credit free report Wilmington collection agencies may honestly not be aware of the bankruptcy. annual credit report
Usually, simply telling them that the debt was discharged in bankruptcy takes care of it and you won’t hear from them again.
Believe it or not, creditors will still call debtors thinking they might credit free report Wilmington still actually receive payment for the debt. Sometimes the debtor simply doesn’t know that the creditor cannot collect.
Other times, bankruptcy filers are so afraid of messing credit free report Wilmington up their fresh start that they pay, not realizing that they no longer owe the debt. A credit free report Wilmington creditor or collection agency may even contact you trying to collect years after the bankruptcy. free credit card report It is illegal credit free report Wilmington however, for debt collectors to continue to contact you. If this happens, it is advised that you gather as much information as you can from the creditor and then notify your attorney or a bankruptcy attorney. Although the attorney may just send a brief letter advising the creditor to cease collection activity, creditors are often sued for violating the Discharge Order for thousands of dollars.
How Does the Bankruptcy Affect Credit? About 60 days after your bankruptcy is discharged, you should pull your credit reports again. The bankruptcy should be on your credit report and any accounts included in the bankruptcy should be noted as “Included in Bankruptcy” and reflect a $0 balance. If the account still holds a balance, you should contact the creditor to make the correction, and challenge the item on your credit report. free government credit reports
Additionally, if the account is noted as credit free report Wilmington open or in collections or in any other credit free report Wilmington way except Included in Bankruptcy, you need to notify credit free report Wilmington the creditor or collection agency immediately. If an amount is showing as still owed, the creditor may be in violation of the Discharge Order, as you do not owe anything on the debt after the discharge.
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