Don’t be duped by credit repair companies that advertise that they can receive your bankruptcy removed from your report.
The simple fact of the matter is that if you complete a loan application, you will most likely have to declare if you have had a bankruptcy within the past few years anyhow.
If you don’t disclose this, you are committing fraud.
You should not commit fraud. It’s dangerous.
So, you still have accounts which show up with balances on them when they were included in your bankruptcy.
Other reports show a balance of zero, but they still have a negative rating on them.
You are probably in a situation in which you need to dispute anything that is negative on your credit report.
You have the right to dispute anything you don’t feel is reporting 100% right because you have the right to have everything on your report be 100% accurate.
That’s the law.
Using Your Credit Report:
You should already have a copy of your credit report.
You can get this online, or you could use a free credit report app or website. Just ask them for it.
They can usually scan it and email it to you as a PDF file.
As soon as you have your report, read it and decide what you believe you need to dispute.
This may be a little daunting task, especially if you don’t know how to read the report.
If you have your report from your loan officer, call them and ask them to help you decipher the report.
You might even have the ability to get them to place an ‘X’ alongside anything on your report which they believe is damaging your profile.
Because you don’t want to dispute anything that is not helping your profile.
This can give you a good place to start with credit repair after bankruptcy.
Begin to draft your Credit Repair letters.
For example, you may dispute collections, charge-offs, public documents, bad debts.
As I mentioned previously, if you have had a bankruptcy, you probably have a whole lot of accounts on your report which still show balances when they shouldn’t since they were included in your bankruptcy.
The experts suggest beginning with these.
Writing Your Letters:
Now that you know what you would like to dispute, you need to write credit dispute letters.
This is basically what a credit repair company would do for you, but you can do it on your own if you prefer.
Additionally, there’s software available on the web which you can purchase, and there are free sites which you can use.
You should find these out if you would like to save yourself a lot of time.
If you don’t have a whole lot of time on your hands (who does?), it is more effective and time-saving to get a credit repair expert to help you out.
Sending out basic credit dispute letters is typically very effective, particularly if the letters look like they are from you rather than created by a program.
In closing, from personal experience helping people send out different types of dispute letters, I can attest that they can really make a difference and turn things around with large organisations.
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