What if a creditor is not listed on my credit report?

Posted by Wesley Scott on March 30, 2020 at 4:14 PM
Wesley Scott

In this fast paced world we live in many people rely on their credit reports or utilize tools such as Credit Karma to stay up-to-date with who and what is reporting on their credit. We certainly believe this to be an excellent practice, but also would like to provide a word of caution: not all creditors or debts will appear on your credit report.

As a firm practicing solely in the field of bankruptcy, we understand the importance of debt and your credit report. Throughout our process of working on your case, we run your credit report as a preliminary matter for the creditor’s that are reporting. Then, during our Review & Sign appointment, we go through the debts and creditors in detail because we want to list every single creditor so that your debt will be fully wiped upon receiving your discharge, in a Chapter 7 or 13!

Most creditors will report to the credit bureau and appear on your credit report. However, there is actually no requirement for creditors to report and not all of them choose to do so. But, that does not mean the debt has vanished or cannot be collected! The most common form of creditors to not appear on credit reports are medical institutions and facilities. Why that is the case? We are unsure! That is why we stress the importance of including every possible creditor and asking you to collect statements or bills.

There is a statute of limitations for reporting certain debts on credit reports, BUT that debt may still be collected upon. We want our clients and future clients to be aware that simply because a debt does not appear on a credit report, it does not mean it will not be reported in the future.

Conclusion

Regardless if you are in a Chapter 7 or Chapter 13 bankruptcy, when it is discharged, we want ALL of the debt and creditors to be gone! Let us deal with them, we want you to get the fresh start you deserve! Go now to www.kainscott.com. You will be glad you did!

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