As you're going through you questionnaire and looking at your credit report, you may have some questions. Here is some information to keep in mind - and maybe even answer a question before you think of it:
The balances listed in my questionnaire are incorrect
Upsolve pulls your most recent credit report and the amount listed is based on that information. If you've made payments or incurred new debt since Upsolve pulled your report, the information will not automatically update in your questionnaire. While you can't update your balances in the questionnaire, you can do so in the case editor.
Keep in mind, the court knows that it's basically impossible to get the balance correct down to the penny as of the filing date. As long as the amount shown is within $1,000 of the actual balance eon the filing date, there's no need to worry. If the balance is more than $1,000 different than what's shown on your forms, it's best to make the update.
If the balance is higher because you incurred new debt since you started the process, be sure to check out this article.
If the balance is lower because you paid more than $600 in the last 90 days, check out this article.
The amount shown on the credit report Upsolve pulled is completely wrong. How do I correct this?
You can update the amount in your case editor. As mentioned, it doesn't have to be perfect, but if the numbers are off by more than $1,000 it's definitely best to make the update in the case editor before generating your forms.
I don't recognize any of the addresses Upsolve lists for my creditors
The addresses are based on the information on your credit report. Bankruptcy notices are sent to a general mailbox or specific addressed used by the creditor for that purpose. These addresses are different from the address that payments are sent to. Creditor addresses should be updated in the questionnaire only if you've confirmed - with the creditor - what address they want you to use on your bankruptcy forms.
If you update a creditors address, make sure that
- The new address is not the payment address
- The new address is general and addressed to either the "Bankruptcy Department" or a specific person, such as "Attn: President" for example.
Do I list account with zero balances?
If the account is old and has been paid off, you don't need to list it. But, if it's a debt you incurred within the last few years and you know it wasn't paid off, it can't hurt to list them with an unknown balance, just in case. It's possible they sold your debt to a collection company that now shows up separately on your credit report and definitely needs to be listed on your forms.
This debt that's on my credit report is something I co-signed for someone else. Do I have to list it.
Yes, when you co-signed the debt, it became your debt too. You have to list here. This is true even if it's a student loan that can't be eliminated anyway. Check out this article for more information about how bankruptcy can affect co-signers.
I'm only an authorized user on this account. Do I have to list it?
If you're only an authorized user, and didn't sign anything that says you'd pay the balance if the account holder doesn't, you don't have to list them. If you're not 100% sure if you're a co-signer or an authorized user, it's best to list the debt, just in case. More information about authorized users is available here.
When in doubt, list the creditor. It's much better to notify a creditor you don't owe about your bankruptcy than to leave one off due to a misunderstanding.