After going through a crises of a Repossession, Foreclosure, or a bankruptcy. It is essential to keep in mind several tips as they might come in handy during the process of recovery and rebuilding an excellent credit.
Frequency of checking your credit. After a discharge or settlement, it is recommended that you check on your credit report at least every three months. It will be a good idea to join a service that will help keep track of the ongoing process of your credit report.
Creditors harassing. In a case of where creditors continue to harass for collection of a debt, they are likely violating the federal FDCPA (Fair Debt Collection Practices Act). If collectors are attempting to collect on something that was part of the discharge, contact a professional that will help get these collectors off your case for good!
Discharged debts will appear on credit. It’s crucial to understand that depending on the discharged debt, it will not vanish immediately. For Chapter 13 cases, it will remain on your record for seven years from the day the case was filed. Chapter 7 cases, a reflection of the discharge will appear for ten years from filed date.
Debt report is incorrect. In a case-by-case basis, a creditor will report incorrect or false information that will lead to a longer process to discharge or recovery. This will be another FDCPA violation and can be taken to court for false discharge information. Proper steps must be taken prior to taking the violator to court, an attorney will explain your possibilities and outcomes base on your situation.
It’s important to know that not everyone’s experience will be the same as some will go through much higher difficulties than others, but fortunately there are people and firms that know exactly how to deal with every situation like this.
Finding yourself in a bankruptcy situation are likely to impact a person’s life drastically, but the good news is that there are ways around to bounce back from a bankruptcy. Have the professionals guide you out of this horrible event the right way but also the quickest way. With over three decades of experience, HARRIS S. AMMERMAN, is dedicated to serving anyone who is experiencing overwhelming debt and needs to file for bankruptcy relief under Chapter 7, or chapter 13. We are pleased to serve the Washington D.C., Maryland and Virginia areas, call today at (202) 638-0606 for a free consultation.
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