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 Posted: Wed Dec 28, 2005 2:49 am Subject: remove bankruptcy from credit report |
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Hi everyone
is it possible to remove bankruptcy from credit report ?
regards
vincent
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vincentkallis
Joined: 23 Aug 2005
Posts: 13
Location: Virginia Debtcc Points: 568
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| Posted: Wed Dec 28, 2005 3:05 pm Subject: |
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Hi Vincent
Welcome aboard!
Bankruptcy can't be removed from your credit report before the legal tenure of 10 years. Only the federal authorities or the CRA has the legal power to remove this remark before the due time.
The credit bureau stores information about your credit from credit grantors and public records. These include bankruptcies, judgments and liens. Accurate negative information like missed payments, charged off accounts are reported for 7 years as per the Fair Credit Reporting Act. Unpaid tax liens appear for 15 years and paid tax lien will be shown in your file for 7 years.
There is no time period for accurate positive information to stay in your file. Maintain your credit worthiness and put a positive view in front of your lenders. They will be willing to extend credit with the best deals based on your financial worthiness.
Keep in touch.
Regards
Roxette
_________________
Debtconsolidationcare offers free counseling and help, please avail the services before taking any major decisions.
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roxette
Moderator
Joined: 18 Mar 2005
Posts: 4140
Debtcc Points: 50413
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| Posted: Wed Dec 28, 2005 4:45 pm Subject: |
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Vincent,
You cannot remove correct negative information from your credit record. Filing for bankruptcy stays in your file for as long as 10 years.
However, you can establish the eligibility to receive credit again. The process is simple. You have to show a good credit habit after the closure of your bankruptcy case.
So, emphasize on rebuilding your credit. Check your credit report thoroughly and remove the incorrect information, if any. Collect some knowledge on how to improve credit score here-
http://www.debtconsolidationcare.com/forums/credit-scoring.html
_________________
Pay off debt and enter a debt free life.
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4ubryan
Moderator
Joined: 28 Apr 2005
Posts: 890
Debtcc Points: 20497
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| Posted: Wed Dec 28, 2005 5:20 pm Subject: |
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Hi Vincent, are you looking for some credit?
Bankruptcy is a negative remark and obtaining new credit after filing is quite tough. Even if it is offered, the unsecured credit card will be quite expensive.
In such situations, talk to your bank and get a secured card. They are usually available at lower rates to those people who have just filed bankruptcy.
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ben
Joined: 20 Jul 2005
Posts: 2099
Debtcc Points: 41167
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