2007-01-01 11:47:11 · 8 answers · asked by tim b 1 in Business & Finance ➔ Credit
I found this website for you:
http://credit.about.com/od/bankruptcy/a/bankruptcredit.htm
How Bankruptcy Affects Your Credit and How You Can Repair the Damage
What Happens to My Credit After Bankruptcy?
When you file for bankruptcy, that fact will be noted in your credit report, and can be reported for up to 10 years after the date of filing. If you dismiss the bankruptcy before discharge, that must be reported as well. Your credit score will also take a hit. Just how low it will be depends in part on how high it was before you filed and how many accounts you're including in the bankruptcy, but it could foreseeably go as low as 400 (on a scale of 350 to 850). It won't stay low forever, but it can take time to rebuild your credit score after a bankruptcy.
How Are My Debts Reported?
Federal Trade Commission (FTC) commentary on the Fair Credit Reporting Act makes it clear that a debt discharged in bankruptcy must be listed as having a zero balance.
The debt can be noted as having been discharged in bankruptcy, as well as the history of late payments (if any) so long as a zero balance is reported.
How Do I Rebuild My Credit?
Make sure all of your accounts are listed in your credit reports as charged off or included in bankruptcy. For debts that have been discharged, make sure they're reflecting a zero balance.
Get new credit cards. You may have a difficult time getting an unsecured credit card immediately after a bankruptcy, but you could get a secured credit card. Your credit limit will be equal to the amount of your deposit securing your credit card; the deposit will be returned to you in full when you close the account or upgrade to an unsecured card.
Ask a relative to add you as an authorized user on one or more credit-cards in their name. Make sure you pick someone who has as good credit history, and their payment history on the cards for which you are an authorized user will also be reported on your credit report. Your bankruptcy won't be reported on their credit report, so there's no drawback to them so long as you don't use the account(s) for which you are an authorized user.
You can usually raise your score to over 600 within 6 months after a bankruptcy by following these steps, and that can be high enough to get a mortgage or car loan, although you'll pay a higher interest rate than someone with a credit score of over 720
2007-01-01 11:51:35 · answer #1 · answered by Stephanie F 7 · 0⤊ 0⤋
as far as i know the only way to remove anything from your report is
1. prove it's not yours
2. appeal to the co that is listing the item and request they remove it
I've never heard anybody being able to get something taken off, I have an item that is the result of a Dr who was paid, and nothing I did could remove it ... even sending documents prooving payment ... so I just gave up and let it go ... since the rest of my report is good everything before and after this idiot drs bad call.
good luck ... hope you get further than I did
2007-01-01 11:52:54 · answer #2 · answered by Chele 5 · 0⤊ 0⤋
If your bankrupcy has been discharged you need to call the credit reporting agency and tell them that.They will them investigate it,and remove the item.Good luck.
2007-01-01 11:49:47 · answer #3 · answered by greeneyedgoddess 2 · 0⤊ 0⤋
7 years, yet a financial disaster remains for 10 years. the really way it would want to be bumped off is that if the creditor notifies the reporting organization that it change right into a mistake, or you may practice something like identity robbery/fraud. you may upload a truth to any adverse merchandise on your historic previous by contacting the credit reporting organization. Your truth explains the adverse merchandise, it would not negate it.
2016-12-01 10:07:02 · answer #4 · answered by brenneman 4 · 0⤊ 0⤋
You can't. They will stay on for 6 - 10 years after the bankruptcy.
2007-01-01 11:49:13 · answer #5 · answered by Anonymous · 0⤊ 0⤋
just because you file bankruptcy, doesn't mean the creditors come off of your report. most of the time, they will just list that the item is included in a bankruptcy. it's up to the creditor.
2007-01-01 11:49:49 · answer #6 · answered by Nikki J 2 · 1⤊ 0⤋
You cannot, and anyone who tells you they can help you is lying to you and will take your money.
A bankruptcy will stay on your credit report for years...up to 10 years depending.
2007-01-01 11:50:09 · answer #7 · answered by ☺ . CIEL . ☺ 5 · 2⤊ 1⤋
right click, then just hit delete.
2007-01-01 11:49:44 · answer #8 · answered by Anonymous · 1⤊ 0⤋