Why Some People Who Completed a Chapter 13 Bankruptcy Are Getting Paid Thousands and Getting Credit Report Errors Fixed For Free
Have you received a discharge from Chapter 13 Bankruptcy any time in the last 7 years?
Did you have a car loan or mortgage while you were completing your Chapter 13 Bankruptcy?
If so, there’s a good chance you could be eligible for significant compensation!
Below you can learn more and request free help from a consumer advocate to see if you qualify.
Life After a Chapter 13 Discharge
Completing a Chapter 13 bankruptcy is not easy.
It requires discipline, commitment, patience, and years of sacrifice and follow-through.
You stayed on track, fulfilled the plan, and earned the right to move forward financially.
But your credit report does not reflect the efforts you made.
If this sounds familiar, you’re not alone.
Many people who have received a discharge from a Chapter 13 bankruptcy don’t get the fresh start they’ve earned.
Creditors often make serious errors that cause big problems for many of their customers who have received a discharge from a Chapter 13 bankruptcy.
After a Chapter 13 is completed, accounts included in the bankruptcy should be reported accurately.
For people who had a car loan or home loan, that means those accounts should no longer appear as active, past due, or unpaid.
When credit reports aren’t updated correctly, it can undo the progress you worked hard to achieve.
This makes it look like debts were never resolved, resulting in blocked access to new credit, higher insurance premiums, and even employment and housing denials.
Not to mention ongoing stress!
When an auto loan or home loan was included in the bankruptcy, the account should be updated to reflect a zero balance and a status such as “discharged” or “included in Chapter 13.”
This isn’t optional—it’s part of what you earned by completing the process.
If a creditor continues reporting the account as active, delinquent, past due, or with a balance after completion, that creditor—not you—may be responsible for the error.
Under the Fair Credit Reporting Act (FCRA), lenders can be held accountable for failing to correct inaccurate reporting.
Thus, anyone who completed a Chapter 13 bankruptcy and whose credit report still shows past debts as active or delinquent may be eligible to receive significant compensation, and to get the errors on their report corrected for free.
How To Get Free Help And See If You Qualify
What many people don’t know is that there is free help available.
Working with a consumer advocate to find out if you have a case costs you nothing but a few minutes of your time, and could result in life-changing benefits.
If it turns out that you do have a case, a consumer advocate or attorney can help you get the errors on your credit report fixed for free, and to potentially be compensated for the damages caused by the error.
According to the FCRA, the creditor or other defendants are required to pay any attorney fees, not you.
The first step is to take a simple online survey to determine your eligibility.
Just tap below to learn what types of errors are eligible and find out if you qualify to be paid.
Why Credit Report Errors Can Cause So Much Damage
Under the FCRA, creditors must report accounts accurately after bankruptcy.
According to a 2021 Consumer Reports investigation, 1 in 3 people have an error on at least one of their credit reports.
And, eight million times a year, consumers contact one of the big three credit reporting agencies to dispute credit reporting errors.
Yet the dispute system is not designed to fix the problem.
If you’re one of the people with an error on your credit report(s), it could cost you tens of thousands of dollars, or more!
Credit report errors can damage your credit score, prevent you from getting or keeping a job, prevent you from getting housing, or prevent you from getting a loan for a car or home.
Unfortunately, most people don’t realize they have an error until they are applying for a job, for housing, or for a loan.
By then, it’s too late.
As the National Consumer Law Center concludes: “Credit bureaus have little economic incentive to conduct proper disputes or improve their investigations.”
It’s important for consumers to dispute errors in their credit reports, and having an advocate on their side can help them follow up with the dispute and potentially fix the errors for free.
More About the FCRA
Passed in 1970, the FCRA helps consumers understand what actions they can take in regard to the information in their credit reports. The FCRA protects information collected by consumer reporting agencies such as credit bureaus, medical information companies, and tenant screening services.
Companies that provide information to consumer reporting agencies also have specific legal obligations, including the duty to investigate disputed information.
Consumer reporting agencies must correct or delete inaccurate, incomplete, or unverifiable information. Inaccurate, incomplete, or unverifiable information must be removed or corrected, usually within 30 days.
Whenever you apply for a credit card, a car loan, a mortgage loan, or any other form of credit, the issuing company checks your credit history to assess your creditworthiness. The terms you are offered for credit (such as a loan) may be based in part on your credit score and information in your credit report.
About Fields Law Firm
Fields Law Firm has a track record of fighting for our clients’ rights and winning cases.
At Fields Law, we take pride in the level of support we give our clients.
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Our goal is to protect your rights so that you can receive all of the benefits you are entitled to.
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