Post Bankruptcy Credit Repair: Re-empower Yourself With A Credit Cleanup

People are susceptible to making wrong decisions that may end up in a tight financial jam and probably, bankruptcy

. We all know bankruptcy stinks but it is not the end of the world. A lot of people who filed for bankruptcy just simple lose hope and give up on everything. But losing hope is never an option. You can do a post-bankruptcy credit cleanup to repair your credit rating and get back to where you were. When bankruptcy is behind you, then take charge of your life; and believe it or not, everyone will be there beside you, even those credit bureaus.

After filing for bankruptcy, you may have the tendency to immediately think that all bad information will appear on your credit report forever. Take heart, all these information on your credit report that can cause a negative effect; along with the late payments you have made, can be removed by credit bureaus upon request.

These past due balances and charge offs have a negative impact on your credit report and it is your right to have them removed. That one line that states your discharged bankruptcy may stay on your report for quite some time; but when you begin working to rebuild your credit, it really won't matter much in, say, two years.

Having that one liner on your credit report can only stick for as long as the law allows it. That's ten years max from the date of your filing for Chapter 7 bankruptcies; and seven years for Chapter 13 bankruptcies. The specific law that governs it is the FACT Act or the Fair Credit Reporting Act. These durations should not bother you at all because they would mean relatively little or nothing after a while. The moment you begin to rebuild a healthier credit, things will definitely get better.

In rebuilding a new and healthy credit, you can begin by getting a mortgage. When you apply for one, the uncomplimentary information doesn't have that much negative impact at all. Most mortgage companies are actually offering lower interest rate for borrowers after two years of bankruptcy.

Bankruptcy is just a temporal event in an otherwise colorful life ahead of you. You can easily get over it if you have the strength to do it. Bankruptcy has never been the issue. You are probably more concerned about all those unnecessary derogatory items on your report, which can actually be removed by request to credit bureaus.

These bureaus are required to do so; but you also have to be realistic and accept the fact that they may be slow to respond and cooperate. There are people whom you can turn to for these problems; but bottom line is, they can be removed and you can start anew. All you need is patience and hard work because it undeniably takes time. It is a slow process but it is sure to get you where you want to go.

by: Dallas Hart

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