Discharged!!

[JeepMom]

Congrats!!!

Now, be smart in rebuilding and moving on!

[anonymuse]

What a great way to start the holiday weekend!!

[Titan]

As far as the credit reports go, what should I be looking for? Should everything actually say discharged in Bk?

The credit reports should reflect that the accounts are included in the bankruptcy. They should not say 30/60/90 etc. days late or anything else. Also you may notice other accounts that are not being reported correctly that were not involved in the bankruptcy.

If you closed credit card accounts previously, they should say "closed by consumer." If the credit card company closed them, they will say "closed by credit grantor." Make sure any of those accounts that you have are being reported accurately.

I had to file a few disputes with all 3 agencies since there were some accounts that were not accurately recorded. Most of us have to dispute something because credit card companies are not known for their fair and accurate reporting.

Good luck to you, and go get 'em!

[bkbiker]

Congratulations on your new financial start in life, remember to live with-in your means and save.

I am sooooooo envious of the chapter 7 filers, I have been in chapter 13 debtors prison now for about 1,740 days; yes that is One thousand- seven hundred and forty days!

Good luck,
bkbiker

[Titan]

Is it a really bad idea to ignore the credit reports for a while?

Would it be really stupid to wait a period of time?

As much as it can be emotionally draining, working on the credit reports is an important first step on the road back to credit rating recovery. Some previous creditors of yours will continue reporting discharged accounts as 30/60/90/120 etc. days past due, which does serious damage to your attempts at rebuilding your credit rating.

The initial pain of looking over your credit reports will go away once you start sending in those disputes and watching the accounts being reported correctly. It's like taking medicine; you may not like the taste, but it's good for you.