Bankruptcy – Dismissal vs. Discharged

According to the Administrative Office of the US Courts, Bankruptcy filings increased by 16.8% in 2023, encompassing both business and individual filings. Bankruptcies are now the sole public records appearing on credit reports, as the credit bureaus (Experian, Trans Union, Equifax) stopped reporting liens and judgments a few years ago. A common question we receive … Read more

How Public Records End Up on a Credit Report

There are three kinds of public records that can appear on credit reports: Bankruptcy Chapter 13 and Chapter 7, state and federal tax liens and civil judgments. However unlike creditors who are data furnishers like credit cards, mortgage companies, etc., courts do not, in most cases, actually furnish the information directly to the credit bureaus. … Read more

Banks Step Up to Provide Relief to Bankrupt Consumers

Bank of America and JPMorgan Chase announced this week that they will make changes to how they report debt that was included in a bankruptcy. The change is set to occur within the next three months. This change comes from lawsuits filed in Federal Bankruptcy court against these two banks along with Citigroup and Synchrony … Read more