Remove Bankruptcy From Credit Report - 2 Secrets Revealed About Improving Your Credit

When someone debts exceed their annual income

, they turned to the federal law where they surrender their assets to a third party trustee who sells them to pay off outstanding debts. Any other debts left accept for child support, student loans, back taxes, and alimony is discharged. Bankruptcies can be removed though they take time, so wait at least two years before you start disputing. The reason for this is that files go dead, and they are moved to storage.

Remove bankruptcy from credit report - Secret 1

Youll first want to dispute the individual items listed inside of the bankruptcy using the normal dispute method. You should then dispute items like incorrect names, dates, the amount of discharge, and the case number. Once you get rid of the accounts listed inside of the listing, it will be easier for you to delete the bankruptcy. The reason for this is the bankruptcy's records are stored in the archives, which make it harder for the credit bureau to investigate and respond back to you in 30 days.

Remove bankruptcy from credit report - Secret 2

If the debt was discharged, it must show zero on your credit report. The account should also say that it was included in the filing. Your listing should appear as Chapter 13 or 7. Some of the agencies still trying to collect may report the debt as open. These agencies are violating the Fair Debt Collection Practices Act (a law that regulates collection agencies) and the bankruptcy code. Write to the credit bureaus and the collection agencies letting them know that you may hire an attorney and file a lawsuit for violation of the code.

When trying to remove a bankruptcy from your credit report, you must have patience, and discipline as it could be very time-consuming. However, if you follow the two secrets mentioned above, you will start to see results.

by: Mark Clayborne

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