310.376.9865
Just a reminder, once your Chapter 7, or Chapter 13 is dismissed or discharge, the Bankruptcy court does not advise the credit card companies that the credit is clear, and that the credit cards should be reactivated.
While some people may be under this assumption, this is not the way things work. A bankruptcy does not necessarily improve your credit and bestow upon you sterling credit.
After bankruptcy, the creditors listed in your bankruptcy will report “included in bankruptcy – balance 0.00.” The Chapter 13 or Chapter 7 bankruptcy does not remove any other derogatory marks on your credit report, such as previous late payments, prior repossessions, or prior foreclosures. Credit reporting bureaus can continue to report anything that is true.
Conclusion: A Chapter 7 / Chapter 13 bankruptcy does not automatically restore your credit to “AAA” status.
DISCLAIMER: The content of this website is intended for informational purposes only. Nothing herein is intended to form the basis of an attorney-client relationship or constitute legal advice.
Los Angeles/Orange County Chapter 13 / Chapter 7 Bankruptcy Attorney
- Law Offices MJ Mann Bankruptcy Attorney
- 2706 Artesia Blvd, Suite BK
- Redondo Beach, CA 90278
- 310.376.9865
