Remove Bankruptcies: Here are the facts about removing bankruptcies from your credit report

Even though new bankruptcy laws were enacted in 2005 to try and reduce the amount of filings, the upward trend of bankruptcy filings has returned due to a few rough economic years.

Is the bankruptcy listing my only concern?

Absolutely not. When you file for bankruptcy you need to make sure that all of the accounts that were listed when you filed are being reported 100% accurately. While all of your creditors will be notified that you’ve filed for bankruptcy, there’s no guarantee that they’ll report it properly to the credit bureaus.

You need to verify that all of the accounts listed in your bankruptcy proceedings are being reported correctly to the bureaus. Not doing so can cause your credit score to tank when all of your creditors are still reporting that you owe them money.

Is it possible to remove a bankruptcy?

A bankruptcy can be removed if it’s not yours or not able to be verified. However, you want to make sure that it’s being reported correctly. If it’s not you have the legal right to dispute the validity of the listing on your credit report.

As with any other dispute, you simply want to send a sample dispute letter and any supporting evidence to whichever bureau is reporting the bankruptcy. They have 30 days to investigate your claim. During that time they can either, remove, correct or validate the listing.

Not getting the results you want?

This is common because so many people just send dispute letters for everything they want removed from a credit report. Credit bureaus will tend to take the side of the creditors and collection agencies. You need to make sure that if the bureaus send a letter back to you and you aren’t getting the resolution that you deserve, that you continue to dispute the account until they get it right.

If it feels like you’re getting nowhere with the credit bureaus, or you would just like a free credit repair consultation to discuss your options, call My Credit Group today