subject: Credit Repair after a Bankruptcy - It's Almost Always a Necessity [print this page] Credit Repair after a Bankruptcy - It's Almost Always a Necessity
Maybe you are under the impression thataftergoing through a bankruptcy, all the accounts that were rolled up in the bankruptcy will be automatically wiped off your credit report. In fact, I have had clients tell me that that's exactly what their bankruptcy lawyer told them. "You don't need to write any credit repair letters. Those things will go away on their own once the bankruptcy goes through." Wrong!
In the vast majority of cases, the accounts that were included in your bankruptcy will still report long after the bankruptcy goes through. People get a false sense of security from the erroneous legal advice they are offered, and that is truly unfortunate. These people need to learn the truth. They cannot sit back and wait for their credit to clean itself up.
The fact is that you do need to do credit repair even after your bankruptcy is through. But don't rush out and hire an expensive CreditRepair company to do your credit report disputing for you. There is nothing they can accomplish for you that you can't do for yourself, and you can do it for free!
In fact, the Federal Trade Commission recommends self credit repair over any company, service, or software that's available. Look over the FTC's consumer facts providedon their websiteto see that doing your own credit repair is what the FTC calls the best credit repair strategy.
If you've had to suffer a bankruptcy, you will know which items were included in it. Get a current copy of your credit report and review it carefully. If any of those items are still showing balances even after the bankruptcy, you need to create credit dispute letters to the reporting credit bureaus. You can find samples of credit repair letters available on many online sites. I like the one provided by theFTC myself, but any of them will do the job. Just tailor the letter to your specific accounts. Be sure to also send along any documentation that proves that the account is erroneous. The company reporting the account has a legal responsibility to get it taken care of. Your credit repair letter will make sure they do.
