In recent years, as credit ratings and credit report information have become so important to everyone, cleaning up the credit report has become one of the most cited motives for filing bankruptcy. Unfortunately credit reporting agencies have often moved at a snails pace when it came to correctly reflecting debts as discharged in bankruptcy rather than as past due. Thankfully in the past few years, the big three credit reporting agencies have become considerably better
This change largely came about as a result of litigants successfully challenging the practices followed by these agencies in updating reports after bankruptcy. While the reporting has greatly improved, it is critically important that when you do file bankruptcy and obtain an actual discharge from the bankruptcy court, you take the next step and review your credit report six months after the discharge date to make sure that the debts are accurately reflected.
The reality is that most people bounce back incredibly quickly with respect to their credit scores in the eighteen months after discharge, but this process is going to be greatly slowed if the reports are not properly reflecting the status of the debts six months after discharge.
If you have filed bankruptcy in either Washington or Oregon and it was discharged at least six months ago, you should probably ask yourself whether you have really checked your credit reports thoroughly.