How can bankruptcy/foreclosures be removed from credit report?

Answer 1

that's the purpose of the credit rating company

Answer 2

You can't really "remove" a bankruptcy from a credit report. It will appear on the credit report for 7 to 10 years. However, often places will ask you "have you ever filed for bankruptcy?" and you have to answer truthfully.

Even if you have a bankruptcy, you can begin rebuilding your credit. You can get a card with a high interest rate or secured card and make a few small purchases... then pay them monthly on time. Continue with your mortgage and car payments on time. This will help increase your credit score.

Answer 3

lazor_braids needs to find a better lawyer.

At least one that can read simple laws. Please refer to the Fair Credit Reporting Act. Chapter 7 bankruptcies are reported for 10 years, Chapter 13 for 7 years.

You can not remove the actual report of the bankruptcy. This is a public record placed by the Bankruptcy Court, and unless the court removed it (not likely) then the listing will stay on your credit report.

Foreclosures are placed by the creditor (unless a judgement was involved). The creditor would have to contact the agency to have it removed (again, not very likely). Otherwise it will stay on your report for 7 years.

Answer 4

They cannot be removed, but you can work hard to restore your credit, it will take time. Get a credit card with a very small balance (400.00 or less) and use it, pay it off each month. Make sure you HAVE THE MONEY BEFORE YOU CHARGE IT!!, as the months roll on, it will help show you are building better credit. Also, NEVER be late on any payments, none. Downsize to whatever it takes to make this happen. Learn the difference between need and want. Also, check your credit often and you should get free counseling at a local bank as to more and better information than I have shared with you here. Blessings to you. Life is difficult-Read "The Road Less Traveled" by M. Scott Peck

Answer 5

In my state 7 years holding on being able to regain a credit rating, the record is never clean, if that was the case there would be more people going that route. There are more bankrup people today than ever with the race to be better than your neighbor or from real hardships. People take more chances aith their money. I had to go that route do to a accident at work. I learned to always take out the disability insurance on your loans. Dont feel bad take the ball and run to regain your ground it not the end of the world by a long shot!

Answer 6

Once the bankruptcy is discharged you should write the company that is still reporting and ask them to remove their trade line from your credit report. They will usually comply if it's in writing.

Answer 7

it should be a threat and a large number of human beings have success notwithstanding that's a subject matter that you ought to be careful of. My credit took a significant nostril dive after a divorce in 2000. What observed became weak credit and a pair of judgments. One judgment became for 3k and the different for 12k. many years into it, or maybe as operating on my own credit restoration, I did dispute the decrease judgment and it became deleted from all of my credit comments. I did so with the awareness that IF the debt became shown, I knew it became a threat to convey interest to the judgment and function them commence to attempt to collect. I knew I had to be prepared to pay it ought to they awaken and are available after me again to attempt to collect. I not in any respect even tried to administration the 12k and in simple terms left it on my own. because it became, it became in basic terms on one credit record besides. So convinced.. it should be finished. ANY debt on your credit record should be disputed. it is your criminal excellent. If the item is extremely no longer yours or has incorrect information, it will be deleted. even if that's yours, legitimately, it nevertheless should be bumped off if the lender would not keep on with by and ascertain the dispute. the different significant difficulty is that inspite of if you're effective at getting it bumped off out of your credit record, the judgment has no longer been satisfied in an attempt to nevertheless come when you to collect. also, many judgments should be renewed so inspite of if 7-10 yrs passes, they could move courtroom and renew it. some do, some do not yet in the experience that they do, they get yet another 7-10yrs. It received't flow decrease back on your credit record yet will proceed to accrue pastime and charges and they could garnish wages etc.

Answer 8

The 7 year number that we hear about is not how long you have to wait to have it removed from your record, that is how long you have to wait before filing for bankruptcy *again*. Ten to thirteen years is the number that I was told by an attorney.

Answer 9

wait 7 years

Answer 10

I suggest get credit counseling most of them are free and works well too.