Can I Remove My Bankruptcy From My Credit Report?

by DeLadurantey Law Office, LLC on June 6, 2014

credit reportBankruptcy is a safe haven for individuals who are overwhelmed by debt. As soon as you file your Chapter 7 or Chapter 13 case, and as long as the automatic stay is effective, all collection activity against you must stop. When you complete your bankruptcy case, you will have discharged or eliminated most (if not all) of your debt.

One of the primary disadvantages to seeking bankruptcy protection is the negative impact it has on your credit score. In many cases, however, the individual’s credit score is already low due to past due payments and defaults. Your bankruptcy filing is a matter of public record, which means the credit bureaus will note it on your credit report. A bankruptcy notation can appear on your credit history for up to 10 years. This may seem like a long time, but as time passes, the impact of your filing lessens. Unfortunately, there is not a procedure that allows you to remove a valid bankruptcy notation from your credit report.

Finally, you should understand that some creditors view your bankruptcy discharge as a positive thing. After a successful bankruptcy, you have very little remaining debt and you are more motivated to timely pay your loans because there are restrictions on when you can file another bankruptcy. To learn more about multiple bankruptcy filings, please read our blog titled “When can you file a second bankruptcy case?”

If you would like a down-to-earth approach and a lawyer who will listen carefully to all your questions and concern, call DeLadurantey Law Office, LLC, at (414) 377-0518. We serve clients primarily in the areas of student loan law, Chapter 7 and Chapter 13 bankruptcies, debt negotiations and defending foreclosure actions. If you live in the area of Milwaukee, Wisconsin, call us for the debt relief assistance you need. Visit our web site and like us on Facebook.


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