After bankruptcy there are steps you can follow to help return your credit back to its original state. This will not happen in a day or two, but over time you will see results. Make sure to follow the right steps to remove the negative entries left by the bankruptcy and get you back on the right track.
How could you remove a bankruptcy and increase your credit score?
Any credit accounts that were eliminated during the bankruptcy procedure will be shown either a "Charge-off" or "BK Liq Reo" on your credit bureau file. The actual bankruptcy will show up as a public record either as a Chapter 7 or Chapter 13.
The best way to eradicate a bankruptcy from your credit record is to challenge it with Experian, Transunion and Equifax directly. Find some mistake in the actual bankruptcy claim; you can usually discover errors since a person had to add the bankruptcy into your credit bureau record.
One of the major potential difficulties you can dispute in a bankruptcy is the dollar amount of each account in question. Many times creditors will round off the account balance number to the nearest dollar for accounting purposes. This can be challenged since the number is technically not accurate. In many cases, the bankruptcy is ordered removed.
Believe it or not, bankruptcies can often be simpler removed than most other negative items on your credit report. Bankruptcy files have numerous pages that need to be translated into an item on your report. So it is very likely that some sort of transcription error could be made by the person transferring the information to your report.
Working with a governmental office is much different from working with private subscribers. Getting the government to cooperate will make it difficult for the credit bureau to reply to your dispute letter within the selected time, and the government's bureaucracy can work in your favor.
When sending your dispute letter, make sure that it is addressed to the credit reporting companies, not to the local court that maintains the bankruptcy file. The credit reporting companies must correct or verify any errors within a certain time frame (usually 30 days) or remove them from your credit file. It is not difficult to find some error in all the bankruptcy papers, so use this to your benefit.
A bankruptcy is not a death sentence for your credit history, and often it is much easier to erase a bankruptcy record then a bunch of small miscellaneous entries on your credit report. Examine your bankruptcy records thoroughly, find an error, then file a request to have it removed from your credit report, so that you can start building your credit again. - 16036
How could you remove a bankruptcy and increase your credit score?
Any credit accounts that were eliminated during the bankruptcy procedure will be shown either a "Charge-off" or "BK Liq Reo" on your credit bureau file. The actual bankruptcy will show up as a public record either as a Chapter 7 or Chapter 13.
The best way to eradicate a bankruptcy from your credit record is to challenge it with Experian, Transunion and Equifax directly. Find some mistake in the actual bankruptcy claim; you can usually discover errors since a person had to add the bankruptcy into your credit bureau record.
One of the major potential difficulties you can dispute in a bankruptcy is the dollar amount of each account in question. Many times creditors will round off the account balance number to the nearest dollar for accounting purposes. This can be challenged since the number is technically not accurate. In many cases, the bankruptcy is ordered removed.
Believe it or not, bankruptcies can often be simpler removed than most other negative items on your credit report. Bankruptcy files have numerous pages that need to be translated into an item on your report. So it is very likely that some sort of transcription error could be made by the person transferring the information to your report.
Working with a governmental office is much different from working with private subscribers. Getting the government to cooperate will make it difficult for the credit bureau to reply to your dispute letter within the selected time, and the government's bureaucracy can work in your favor.
When sending your dispute letter, make sure that it is addressed to the credit reporting companies, not to the local court that maintains the bankruptcy file. The credit reporting companies must correct or verify any errors within a certain time frame (usually 30 days) or remove them from your credit file. It is not difficult to find some error in all the bankruptcy papers, so use this to your benefit.
A bankruptcy is not a death sentence for your credit history, and often it is much easier to erase a bankruptcy record then a bunch of small miscellaneous entries on your credit report. Examine your bankruptcy records thoroughly, find an error, then file a request to have it removed from your credit report, so that you can start building your credit again. - 16036
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