WHAT DOES MY CREDIT REPORT LOOK LIKE AFTER BANKRUPTCY?

The Fair Credit Reporting Act (15 U.S.C. §1681 et seq.) governs how a creditor can report a debt that has been discharged in bankruptcy.

The creditor can report an account that has been discharged in bankruptcy, but the account must show a zero balance after the discharge.

The Official Staff Commentary of the Federal Trade Commission states that “A consumer report may include an account that was discharged in bankruptcy (as well as the bankruptcy itself), as long as it reports a zero balance due to reflect that the consumer is no longer liable for the discharged debt.”

A bankruptcy filing can be reported for up to ten years by a credit reporting agency on a consumer report, with some minor exceptions. 

Delinquencies on an account  can be shown even if liability on the account has been discharged, as long as the balance on the account shows zero.