Credit Repair After Bankruptcy
There are ways to repair your credit file after a bankruptcy. Although these procedures will not help overnight, they can be used to help repair your credit over time. Taking the needed steps to remove the bankruptcy record from your report or to improve your credit after a bankruptcy can place you on the right track to prepare your credit report and score for the future.
There are steps you can take after bankruptcy to fix your credit report.
Any debts that were removed during bankruptcy will listed as either "Charge-off" or "BK Liq Reo." The bankruptcy will itself show up under the public record section as a Chapter 7 or Chapter 13.
The only way to eliminate the bankruptcy itself from your credit report is to dispute it directly with the credit reporting companies. You can usually find some error in the reporting of the bankruptcy, since the information is entered by a human being.
Look closely on your credit report for any error the person made when adding up all of the bankruptcy accounts. They often round the number to the next dollar amount and this is technically not the actual amount. Therefore, you could challenge this and in many cases the bankruptcy will be eliminated.
Often, bankruptcies are easier to extinguish than other listings on your credit report. This is because bankruptcy files contain a plethora of information, so the likelihood of human error is extremely high as items are typically entered by busy or overworked court employees.
Working with a governmental office is markedly different from working with private subscribers. Getting the government to cooperate will make it hard for the credit bureau to reply to your dispute letter within the selected time, and the government's bureaucracy can work in your favor.
This next step is important: send a letter of dispute to all three major credit bureaus, not to the court that filed the bankruptcy claim. The credit bureau will need to correct any of the incorrect information on the credit report in a specific amount of time or eradicate the information from the report. You should take advantage of this system.
Remember that bankruptcy is not the end of your credit life, and it can even be easy to resolve compared to the many minor negative items that may show on your report. Look over your bankruptcy records thoroughly, determine if there are any mistakes, and then make your claim with the bureau demanding them to remove it from your credit report so that you can have a fresh start.
There are steps you can take after bankruptcy to fix your credit report.
Any debts that were removed during bankruptcy will listed as either "Charge-off" or "BK Liq Reo." The bankruptcy will itself show up under the public record section as a Chapter 7 or Chapter 13.
The only way to eliminate the bankruptcy itself from your credit report is to dispute it directly with the credit reporting companies. You can usually find some error in the reporting of the bankruptcy, since the information is entered by a human being.
Look closely on your credit report for any error the person made when adding up all of the bankruptcy accounts. They often round the number to the next dollar amount and this is technically not the actual amount. Therefore, you could challenge this and in many cases the bankruptcy will be eliminated.
Often, bankruptcies are easier to extinguish than other listings on your credit report. This is because bankruptcy files contain a plethora of information, so the likelihood of human error is extremely high as items are typically entered by busy or overworked court employees.
Working with a governmental office is markedly different from working with private subscribers. Getting the government to cooperate will make it hard for the credit bureau to reply to your dispute letter within the selected time, and the government's bureaucracy can work in your favor.
This next step is important: send a letter of dispute to all three major credit bureaus, not to the court that filed the bankruptcy claim. The credit bureau will need to correct any of the incorrect information on the credit report in a specific amount of time or eradicate the information from the report. You should take advantage of this system.
Remember that bankruptcy is not the end of your credit life, and it can even be easy to resolve compared to the many minor negative items that may show on your report. Look over your bankruptcy records thoroughly, determine if there are any mistakes, and then make your claim with the bureau demanding them to remove it from your credit report so that you can have a fresh start.
About the Author:
The best credit repair solution I've discovered is Credit Repair Magic, available at CreditRepairMagic.com. It's the fastest and best value credit repair system I've seen. Don't waste your time and money with useless e-books or ridiculously overpriced monthly services. Invest in the highest quality program to dispute bad credit today.
posted by Credit Counseling at
5:39 AM
1 Comments:
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