What Should Be on My Credit Report After Bankruptcy?

Credit reports should show the amount of money owed by a borrower on different debts, and whether or not they are making payments.

What Should My Credit Report Say After Bankruptcy Discharge?

  • Credit reports should include information about bankruptcy, which will appear in the “public records” section.
  • The bankruptcy details should include your attorney’s name and whether or not it was dismissed.
  • If a debt was discharged through bankruptcy, it means the borrower is no longer responsible for it. However, this information will remain on the credit report for six years after the discharge.
  • Even if a debt was discharged, it should still be reflected as “current and paid” on the credit report. If the borrower doesn’t make payments, it will show as late payments.
  • Student loan repayments after bankruptcy will be illustrated below.
  • Mortgages and car loans that have collateral will only show up on a credit report if the borrower signed a reaffirmation contract during bankruptcy and the lender filed it with the court.
  • Payment history for a reaffirmed loan will not appear on a credit report if there is no reaffirmation contract.
  • Lenders may forget to update credit reporting or inform credit bureaus of the payment on the reaffirmed loan, making the process of reaffirmation confusing.

This article was written by Alla Tenina. Alla is a top San Fernando Valley bankruptcy lawyer and the founder of Tenina Law. She has experience in bankruptcies, real estate planning, and complex tax matters. The information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only. Information on this website may not constitute the most up-to-date legal or other information. This website contains links to other third-party websites. Such links are only for the convenience of the reader, user, or browser; the ABA and its members do not recommend or endorse the contents of the third-party sites.