If you have a bankruptcy on your credit report you probably feel like there is no way to escape a low score. However you can remove this listing and you can create a positive score for yourself.
There is a lot of inaccurate information that claims a bankruptcy will be on your report for 10 years. This is not true you can remove it without waiting 10 long years. We suggest that you:
1. Dispute the listing with the bureaus directly.
This is done by sending a dispute letter to the bureau; you can do this yourself or hire a service to do it on your behalf. The bureau will then conduct an investigation into the listing. However bureaus do not check public records when they investigate a dispute, thus the listing will not be verified.
The Fair Credit Reporting Act says that a listing that in not verified must be removed from your report. Additionally this act says that you can dispute any item you feel is inaccurate on your report. It is a common concern about the legality of repairing your credit; you will never have any legal consequence for disputing a listing.
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. When your bankruptcy mark is erased, you can start to dispute each negative account.
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. We suggest you start building positive credit. This is most effective by opening a new revolving line of credit such as a credit card.
When you make your on time monthly payments you will create a positive payment history on your report. Additionally this will help your utilization ratio, this is how the bureaus decide if you are in over you head financially. It is measured by the amount of available credit you have versus how much debt you have. These are the two biggest factors when your score is calculated.
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 a positive payment history, report clear of derogatory items, and a good ratio of available credit to debt is the recipe for a 700 plus score. This will improve your quality of life by; saving you money on large deposits, high interest rates, and the embarrassment of a denial. - 16036
There is a lot of inaccurate information that claims a bankruptcy will be on your report for 10 years. This is not true you can remove it without waiting 10 long years. We suggest that you:
1. Dispute the listing with the bureaus directly.
This is done by sending a dispute letter to the bureau; you can do this yourself or hire a service to do it on your behalf. The bureau will then conduct an investigation into the listing. However bureaus do not check public records when they investigate a dispute, thus the listing will not be verified.
The Fair Credit Reporting Act says that a listing that in not verified must be removed from your report. Additionally this act says that you can dispute any item you feel is inaccurate on your report. It is a common concern about the legality of repairing your credit; you will never have any legal consequence for disputing a listing.
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. When your bankruptcy mark is erased, you can start to dispute each negative account.
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. We suggest you start building positive credit. This is most effective by opening a new revolving line of credit such as a credit card.
When you make your on time monthly payments you will create a positive payment history on your report. Additionally this will help your utilization ratio, this is how the bureaus decide if you are in over you head financially. It is measured by the amount of available credit you have versus how much debt you have. These are the two biggest factors when your score is calculated.
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 a positive payment history, report clear of derogatory items, and a good ratio of available credit to debt is the recipe for a 700 plus score. This will improve your quality of life by; saving you money on large deposits, high interest rates, and the embarrassment of a denial. - 16036
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