I was declared bankrupt in 2004 and discharged in 2005. I recently viewed my credit file and was surprised to see that 3 of the lenders ( banks ) are still reporting the debts as a default each month ? The other accounts are shown has settled. I wanted to try to re-build my credit score, which I know will be very difficult, but how come these banks are still reporting as defaults each month after nearly 5 years of being discharged ?
It looks like it stays on your credit file for 6 years, although the entry should be marked to reflect the bankruptcy. How old is the debt in question?
The bankruptcy should be noted separately on your file. This entry should be removed 6 years after you went bankrupt.
The debts to the banks were written off when you were discharged from bankruptcy so they no longer exist & should have been marked as settled. Take this up with the banks, & with the credit ref. agency.
Ask for a free consultation with your bankruptcy attorney and ask questions about experience and education. Most lawyers offer free consultations, so talk to a few before making your decision.