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Bruce S. Rosenwater & Associates A law firm. For life.
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Understanding Bankruptcy And Your Credit Report


Filing for bankruptcy could be a good option if debt and financial problems are putting a strain on you and your family. While bankruptcy can bring a fresh start, your credit report will be impacted. It is important you understand the advantages of bankruptcy and what you can do to repair your credit score after filing.

To learn more about different types of bankruptcy and how information about it can be accessed, discuss your situation with a West Palm Beach bankruptcy attorney. It is important you know that bankruptcy will be public record, meaning the court does not reach out to credit report agencies to inform them of the event, but they can gather the information on their own.

Chapter 7 and Chapter 13 Have Different Timelines

While a bankruptcy will likely be listed on your credit report, once the agency culls that information from the public record, how long the information will be on your credit report will depend on which bankruptcy chapter you filed.

How long bankruptcy filings stay on a credit report:

  • Chapter 7 filings remain on a credit report for 10 years.
  • Chapter 13 bankruptcies will be on your report for seven years.

It is important to note that a person who files for bankruptcy has likely been unable to pay their bills in full for a period of time. For this reason, even with the initial hit of filing a report, deciding to declare bankruptcy may actually help you build your credit in the future. After filing, it is likely your credit score will increase over time.

If you want to remove a bankruptcy from your record, inaccurate information would need to be present. If there is an error, the Fair Credit Reporting Act gives you the right to challenge the documentation. A seasoned attorney can help you work through information and determine if there are errors. Next, a lawyer knows how to challenge records that are unsubstantiated.

Talk to An Experienced West Palm Beach Bankruptcy Attorney

When your debt is unmanageable and you are unsure where to turn, talk to a skilled West Palm Beach bankruptcy attorney. It could be time to declare bankruptcy. Financial independence is possible. While the choice is not easy, a fresh start could be just what you and your family need to move forward.

When you work with a lawyer, they can make sure everything about your situation is reported accurately and any errors are quickly fixed. This will ensure you will not be pursued by past creditors once the process is complete. You will also be able to discuss any concerns you have  honestly with your attorney. Questions about how to secure a future post-bankruptcy mortgage are common, for example.

Is it time for you to declare bankruptcy but you would like an experienced legal professional to walk you through the process? The bankruptcy lawyers at Bruce S. Rosenwater & Associates, P.A. can help. Our firm has the skill, resources, and experience you need to move forward with your life confidently. Call today for a consultation.

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