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weary and tired · Posted: Mon Feb 11, 2008 12:34 am Subject: how do i remove bankruptcy

I had filed bankruptcy two years back at that time i had no option and to tell you the truth i was not that financially educated that i could think of any other option than filing for bankruptcy to clear my debts. Now I have realized what a fool i was to declare myself bankrupt. I am not being able to get a home mortgage at a decent rate as my credit report has a black mark named bankruptcy. Its been two years now and iam sick and tired of knocking at the doors of lenders. Though i know that it will stay on my report for 10 years but surprisingly one of my acquaintances told me that she had it removed before ten years. though the process took 5 months to complete but now her report is free from bankruptcy! So, I called up the office and personally had a talk with the owner and he assured me that he would remove it legally. Iam here to ask should I go for it or not?

Please help me fix my problem.

Posted: Mon Feb 11, 2008 2:58 am Subject:

http://ftc.gov/bcp/conline/pubs/credit/repair.shtm

You (or a company acting on your behalf) may or may not be successful removing a bankruptcy from your credit report through the dispute process.

Posted: Mon Feb 11, 2008 10:58 pm Subject:

Hi weary and tired

Morningstar is absolutely correct.......any third party who advices you that they can remove accurate negative info from your report is actually lying. You must be very careful while dealing with such phony companies that advertise themselves as credit repair clinics and claim that they can clean all the blemishes in your credit files. May of these companies advice consumers to apply for an EIN by providing false and fake information. Many of the consumers do not know that they might face fines or even a jail sentence for falsely getting the EIN.

I can very well understand your situation....but by falling into the traps of such crooks will dig you deeper into trouble. Please be careful friend.

Take care and keep us posted
nelly

weary and tired · Posted: Mon Feb 11, 2008 11:41 pm Subject:

Thank you morning star and goodnelly.i will remain careful as at this moment i do not want to enter into any legal trouble.thanks again

Posted: Tue Feb 12, 2008 10:11 am Subject:

weary and tired, have you though about or tried to get an FHA loan? Here are the general qualifications for them, check into it.

You will need to have 2 years of steady employment. Not necessarily by the same employer but it is preferred.
Your income should be similar or increasing for the past 2 years.
You should have less than two 30 day periods of late payments on your credit reports.
If you have declared bankruptcy, then it must be at least 2 years old and you will have to have good credit since then.
Foreclosures will also need to be older than 3 years and have good credit since then.
Mortgage payment should be about 30% of your gross income.

Guest · Posted: Thu Feb 14, 2008 10:28 pm Subject:

Nopes ramj i dont have a good credit im trying my level best to get it but sadly its not happening.

Posted: Thu Feb 14, 2008 10:45 pm Subject:

But I appreciate your information, ramj70! Thanks.

Guest, have you looked into any programs that your state might have? First-time home buyer, rural development, etc? Just a thought.....

Posted: Fri Feb 15, 2008 3:38 am Subject:

Hi guest

I know it is quite difficult to get new credit after filing bankruptcy...you can try out the above mentioned programs suggested by unclewulf.

Nelly

Sams dollar · Posted: Fri Feb 15, 2008 4:13 am Subject:

oh my god weary n tired what r u sayn? d bankruptcy was removed frm her report Surprised

but it cant be removed before 10 yrs tats wat i knew. god forbid i hope she does not fall into ne legal trouble.

Posted: Sat Feb 16, 2008 2:21 am Subject:

goodnelly and others you are all so helpful on this site and are a god send!!!!

Guest · Posted: Thu Feb 21, 2008 5:26 am Subject:

I ALSO HERD THAT COMPANIES THERE IS SOME COMPANIES WHICH REMOVE BANKRUPTCY FROM MY FILE. I HAVE 3 YEAR OLD BANKRUPTCY AND I CAN NOT GET NEW CREDIT BECAUSE OF THAT. EVEN I GET CREDIT NOT GOOD INTEREST RATE IS NOT THERE.

Posted: Thu Feb 21, 2008 11:02 pm Subject:

I may be wrong and I know credit is getting much harder these days...but I know people who have bankrupted and two years later have several credit cards..qualify for financing on homes cars etc....
in my business ..interior decorating ..home furnishings...if bankruptcy is on file in past 7 years finance company we go through automatically declines applications..
guest...my opinion only from what I have seen...
if you have bankruptcy..a good interest rate will not be there..but because you have removed yourself from all debts...you are still a good risk for some creditors..(sometimes a much better risk than someone else with a much higher credit score)....
because you now have less debts and obligations than others....I would just once again encourage you to heed awesome Goodnelly's advise....be careful!!!!!

sunshine45 · Posted: Fri Feb 22, 2008 6:09 am Subject:

Hey socksfullofrocks, you are god damn right! i must say damn damn right! i remember how badly i was screwed up by a company that assured me of removing a 2 year old bankruptcy, they simply robbed me off, Oh man it was a complete disaster for me Crying or Very sad

jennyjen272 · Posted: Sun Feb 24, 2008 10:18 am Subject: Removing Bankruptcy

Credit bureaus do not investigate public records.. so you can dispute a bankruptcy. You might have to fight over and over monthly about it but it can be done. You dont have to lie about any negative items on your reports, but you can make the credit companies verify that its true and accurate. Just the same as bankruptcies. Almost all public records have to be received in person. Credit Bureaus might say they got it electronically. They cannot do that. They dont even check it. One Credit Bureau of the three is harder to get it off and they have been sued the most because of it. By law they have to verify it and if they cannot they have to remove it.

sunshine45 · Posted: Fri Feb 29, 2008 2:10 am Subject:

Can credit bureaus remove bankruptcy even if it has not crossed 7 years time frame? can it be done? hell confusin matter Confused

Guest · Posted: Fri Feb 29, 2008 2:48 am Subject:

i had my bankruptcy removed with in 3 years.all u do is tell the bureau is that u will sue them if the bankruptcy is not removed.i tell u something these bureaus do not have time and energy to verify it with the courthouse.

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