by Matt Douglas,
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on the net: http://www.youcancreditrepair.com
UNITED STATES, Jan 04 — 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.The truth is that this mark does not have to remain on your credit for 10 years. You can create a high score for yourself by removing the bad items and building positive marks
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f 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.
The truth is that this mark does not have to remain on your credit for 10 years. To remove it we suggest:
1. Dispute the mark with each bureau.
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 any mark that can not be verified by the bureau must be removed from your report. Additionally this mark says that you the consumer can dispute any item on your report that you do not feel is accurate. Often people are concerned with the legality of credit repair, and you should know you will never be fined, prosecuted, arrested, or face any legal action for disputing an item.
Before you dispute the bankruptcy it is a good idea to make sure that all other negative marks read "included in bankruptcy." The reason is once the initial bankruptcy mark is removed you will dispute all the other negative items because you do not have a bankruptcy mark on your report. There are rumors that it is much easier to remove this mark after two years.
2. When your bankruptcy mark is erased, you can start to dispute each negative account.
This can be done because no where on your credit report does it say you have filed a bankruptcy so how can these negative items be included? Upon an investigation the marks should be erased and this will provide you with a clean report.
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.
By making your on time monthly payments you will create a positive payment history. Additionally keep your monthly balance at 25% of your available limit because this will show the bureaus that you do use your card and use it responsibly. This will improve your ratio of available credit to debt, a very important factor when your score is calculated.
It might not be the most ethical to dispute items you know are accurate on your report. However is it ethical for lender to charge you 30% interest rate for missing a payment, no matter how long you have been a model customer?
In sum you don't just have to live with bad credit. You can remove the items and you can do it today. You can create a high score for yourself by removing the bad items and building positive marks. This will save you; on interest rates, embarrassment from a low score, and give you the purchasing power you deserve.
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