With a bankruptcy mark on your report your score will be lowered considerably. However there is hope, you can remove this mark and by building some positive credit you can create a good score.
Contrary to popular belief this mark can be removed from your report and without waiting 10 years. To remove this mark we suggest:
1. Dispute the listing with the bureaus directly.
You can do this yourself or hire a service to dispute the mark on your behalf. Did you know that the bureaus do not check public records when they investigate an item? Public records are where this mark is recorded and where the bureau would find verification.
The Fair Credit Reporting Act says that any mark that can not be verified by the bureau must be removed from your report. Additionally this mark says that you the consumer can dispute any item on your report that you do not feel is accurate. Often people are concerned with the legality of credit repair, and you should know you will never be fined, prosecuted, arrested, or face any legal action for disputing an item.
We suggest before you dispute the bankruptcy you double check to make sure any negative accounts are reported as "included in bankruptcy." This is because once the bankruptcy is removed from your report you will dispute each listing on the basis that it says "included in bankruptcy" yet there is no bankruptcy on your report. Additionally it is rumored that removing a bankruptcy is easier after 2 years have expired.
2. Dispute each negative item.
You will be able to challenge the mark on the basis that your report does not show a bankruptcy. Therefore each item should be deleted by the bureaus upon investigation.
3. Open a new revolving line of credit such as a credit card. This will help you build some positive credit on your report.
With on time payments you will build a positive payment history, this is heavily weighted when your score is calculated. It will also help if you keep your balance under 30% of your limit because this will help your utilization ratio. This means you will have better ratio of available credit to debt.
While it is not illegal to dispute an accurate mark on your report it may not be the most ethical thing to do. However in my opinion charging people outrageous interest rates upwards of 30% and charging late fees is not ethical either.
In sum you can remove a bankruptcy and all the negative marks on your credit report. If you build some positive credit and remove the negative credit you can achieve a very high score. This will improve your quality of life by; lower interest rates, more purchasing power, and extra money. - 16928
Contrary to popular belief this mark can be removed from your report and without waiting 10 years. To remove this mark we suggest:
1. Dispute the listing with the bureaus directly.
You can do this yourself or hire a service to dispute the mark on your behalf. Did you know that the bureaus do not check public records when they investigate an item? Public records are where this mark is recorded and where the bureau would find verification.
The Fair Credit Reporting Act says that any mark that can not be verified by the bureau must be removed from your report. Additionally this mark says that you the consumer can dispute any item on your report that you do not feel is accurate. Often people are concerned with the legality of credit repair, and you should know you will never be fined, prosecuted, arrested, or face any legal action for disputing an item.
We suggest before you dispute the bankruptcy you double check to make sure any negative accounts are reported as "included in bankruptcy." This is because once the bankruptcy is removed from your report you will dispute each listing on the basis that it says "included in bankruptcy" yet there is no bankruptcy on your report. Additionally it is rumored that removing a bankruptcy is easier after 2 years have expired.
2. Dispute each negative item.
You will be able to challenge the mark on the basis that your report does not show a bankruptcy. Therefore each item should be deleted by the bureaus upon investigation.
3. Open a new revolving line of credit such as a credit card. This will help you build some positive credit on your report.
With on time payments you will build a positive payment history, this is heavily weighted when your score is calculated. It will also help if you keep your balance under 30% of your limit because this will help your utilization ratio. This means you will have better ratio of available credit to debt.
While it is not illegal to dispute an accurate mark on your report it may not be the most ethical thing to do. However in my opinion charging people outrageous interest rates upwards of 30% and charging late fees is not ethical either.
In sum you can remove a bankruptcy and all the negative marks on your credit report. If you build some positive credit and remove the negative credit you can achieve a very high score. This will improve your quality of life by; lower interest rates, more purchasing power, and extra money. - 16928
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