Minnesota Attorneys Helping Clients With Credit Reporting Issues

Minnesota's Bankruptcy Law Firm for More Than 40 Years

Although we have a great deal of knowledge and experience in the areas of debt problems and debt relief solutions at Prescott & Pearson, P.A., our practice focuses solely on helping debtors file Chapter 7 and Chapter 13 bankruptcy. We do not deal with clients' credit reporting issues aside from offering generalized advice.

So what can you do if your credit report contains errors in the months following your bankruptcy? First of all, some negative information on credit reports will be accurate and expected: Namely, the bankruptcy will be reflected on your credit report for up to 10 years following the discharge. However, it is not uncommon for bankruptcy filers to see inaccuracies in the months following a bankruptcy.

As a rule of thumb, we would encourage you not to focus on your credit report and credit rating. Remember, it does not actually belong to you, but rather, it is a creation of credit reporting agencies. A low credit rating for a time may not matter in your daily life once you have attained the goal of a financial fresh start and no longer resort to credit cards and loans to make it through.

You also should realize how much worse it would be if you had not filed bankruptcy, but fallen into default on loan obligations over a long period of time. These bad loans would certainly be on your credit report and would most likely make it impossible for you to obtain credit afterward.

In contrast, after a bankruptcy filing and discharge, most of our clients re-establish credit within a year or two. Bankruptcy offers a clear starting point from which to rebuild credit.

"This Is All We Do, and We Do It Well."

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  • Minneapolis-St. Paul Area: 651-968-8096
  • Minnesota Toll Free: 888-366-0827

Are you dealing your financial difficulties in Minnesota? Credit problems? Lawyers at Prescott & Pearson, P.A., have tools to help you achieve debt relief, and can advise you on how to re-establish your credit after bankruptcy. To learn more about your debt relief options, including Chapter 7 and Chapter 13 — call or contact our bankruptcy lawyers today. We offer free initial consultations, quality services at competitive rates and effective representation statewide.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.