|
Written by Rockmond
|
|
Tuesday, 27 February 2007 |
|
Word Count: 366 Is it possible to remove bankruptcy?
Faqs on Bankruptcy Part1
Any negative listing can be removed from a credit report if it is erroneous,
questionable and disputable. However, negative items such as bankruptcy and
unpaid debts are more difficult to remove from the credit report. This is
primarily due to the operational systems of the credit bureaus rather than with
the severity of the bad credit item such as bankruptcy or unpaid debt. For
example, judgments and tax liens are also severely negative listings yet have
been considerably easier to remove. Credit repair is a good option.
Does bankruptcy wipe the slate clean for a second chance?
The bankruptcy does appear on your credit record in the court records section.
When you file for bankruptcy, every credit account that you decide to include in
bankruptcy becomes an "included in bankruptcy" account. Because so many negative
items are attached to the bankruptcy, it becomes very difficult to remove all
trace of that bad credit.
During Bankruptcy improving credit score is a good option
What can I do to contest entries on my credit report?
There are three common ways to repair credit report: 1) hire a lawyer, 2) hire a
credit counseling company, or 3) do-it-yourself. Hiring a lawyer can be
extraordinarily expensive at rates of over $300 per hour. Hiring a credit
counseling company typically costs upwards of $1,500, and can be risky as there
are many credits counseling companies with shaky reputation which make big
promises, but in reality just take advantage of customers without delivering
real results. That is why the Federal Trade Commission has issued a consumer
warning on this topic and has strongly suggested to consumers to adopt a
do-it-yourself approach. The issue until now has been that there were no
comprehensive resources as to what exactly you need to do as a consumer to
correct your credit report.
Author -- Rockmond Dunbar . Rockmond is an experienced Credit Score Repair
Expert and producer of Credit Repair Kit. He is the owner of Hi Score Inc . A
Guide to Improve Credit Score and Raise FICO score
http://www.hiscoreinc.com/
|
