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DrakeLAW
DrakeLAW, Lawyer
Category: Legal
Satisfied Customers: 431
Experience:  Attorney at Drake Law Firm PLC
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If just had a chap 7 .k. discharge 2 months ago, would that

Customer Question

If just had a chap 7 b.k. discharge 2 months ago, would that not eliminate the need for a credit repair to my credit?
JA: What state is this in? And when did the issue begin?
Customer: This is in GA., but now living in TEX.
JA: Have you talked to a lawyer yet?
Customer: no
JA: Anything else you think the lawyer should know?
Customer: I have a small business and a loan broker (Midas Financial) wants to do a credit repair even though I just had a B.K. discharge. They say it is necessary to qualify for a loan to be granted. That does not make any sense.
Submitted: 4 months ago.
Category: Legal
Expert:  DrakeLAW replied 4 months ago.

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Your intuition is correct. The discharge essentially wipes out the need for credit repair. The only exception may be if there is a creditor reporting on a tradeline that has failed to acknowledge your bankruptcy discharge. In that case, it needs to be disputed to ensure your discharge is accurately reported. But other than that, wholesale credit repair seems pointless. Your discharge will "reset" your credit to a lowered score and you just need to increase it now over time. A secured credit card is a great way to establish an account and start getting positive tradelines on your report.

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