Can bankruptcy ever be removed from credit file?
Ella, Credit repair does not mean removal of negative informa
Ella,
Credit repair does not mean removal of negative information that is correct. If you file bankruptcy, it will stay in your report for 7 to 10 years. It cannot be removed.
If a Credit Repair Agency is claiming that they can remove ???bankruptcy' from your report, I doubt how legitimate they are.
I would rather suggest you to accept the reality. Try a consolidation program to repay your delinquent accounts. Be punctual on your payment and concentrate in building a good credit in future...better late than never.
Bryan, I have to disagree with you, bankruptcy can be remove
Bryan,
I have to disagree with you, bankruptcy can be removed from your credit report. Just like any other accounts you have on there. It takes persistence and patience but it can happen. I know because it's happened to me.
Each time you dispute something with the credit bureaus it goes through a verification process. If the account holder fails to verify it is removed from your credit file. That's by law, even if it is your account. I actually had mine added back on, only to dispute it again and get it removed.
So, yes you can have it removed. But, it's not going to magically happen and sometimes for some people it doesn't happen like that.
Poohbear24, I will like to show you an excerpt from the FTC webs
Poohbear24, I will like to show you an excerpt from the FTC website.
Quote:
When negative information in your report is accurate, only the passage of time can assure its removal. A consumer reporting company can report most accurate negative information for seven years and bankruptcy information for 10 years. |
http://www.consumer.ftc.gov/
Legally, bankruptcy cannot be removed from your credit file before the time period. But, if an UNFAIR approach is used to remove chapter 7 bankruptcy, dispute with the CRA after 2 years 1 months from the date of discharge. Bankruptcy courts have all files handy for 2 years after which they go to the microfiche. So, when the CRA will verify the records with the bankruptcy court, chances are that they may not be able to get the verification. The CRA will not have any other option but to remove the bankruptcy from the file. But, remember, this is FRAUD and if an investigation is run on the person, legal actions can be taken against him.
This is something that I heard from another person, so just don't take my words seriously and repairing your file legally.
John, I do understand what that says, but it isn't considered
John,
I do understand what that says, but it isn't considered FRAUD as you put it if you dispute it in the correct manner. Not once have I said that none of these accounts were mine.
All that I can say is, I have done it, so therefore saying it can't be done legally is wrong. I have done this legally which is why I use a law firm. Unless it has been done for you, I don't truly expect anyone to understand it.
Quote:Each time you dispute something with the credit bureaus it
Quote:
Each time you dispute something with the credit bureaus it goes through a verification process. If the account holder fails to verify it is removed from your credit file. |
Some credit repair agencies use this loop hole of law and assure consumers bankruptcy to be removed from their file. But there is no guarantee that the process will succeed ultimately. If the creditor and bankruptcy court fails to validate within 30 days then only you can get it removed from your credit file. However, it does not mean that you did not declare bankruptcy ever.
In my opinion, this removal can be fatal to you in future because if you ultimately manage to remove it, your financial state will remain unchanged. So you will be presenting yourself falsely in future and get approved for credit depending on that false appearance. It might take you beyond your actual limit and lead to another bankruptcy!
Stan, Understandable what you are saying. But, deletions do
Stan,
Understandable what you are saying. But, deletions do not automatically go hand in hand with bankruptcy. You stated that one may not be changing their financial situation, this is true. It's up to that individual to do what is right after their bankruptcy to ensure that it doesn't happen again.
Me personally, I have taken those steps. I am still learning and stumbling, but have educated myself and have turned around the way I look at money. So what you have said, all depends on the individual.
Quote:all depends on the individual. Exactly, it completely d
Quote:
all depends on the individual. |
Exactly, it completely depends upon consumers. Anyway, if individuals could take such measured steps then perhaps no one needed to file bankruptcy at all. What you think?
FYI, some of the forum members have succeeded to remove negative entries from credit file. This community is very helpful and provides all necessary support.
I have just found the video on this site. It's really useful. You can also check it. It describes the process of disputing online with credit bureaus-
http://www.debtconsolidationcare.com/video/disputecreditreportentry.html
I agree with taking the messured steps and not having to file.
I agree with taking the messured steps and not having to file. If I were more educated before hand, I would not have done so either. But, I do not regret it.
I did bankruptcy back in 2000. The full bankruptcy, I believe i
I did bankruptcy back in 2000. The full bankruptcy, I believe it's 7. There were a few things that didn't qualifiy for bankruptcy such as my student loan and such. I've tried several times to get other things taken off my report that should no longer be there, but no one ever follows through with the proper forms I have filed. I've contacted several attornys a few years ago, but they all wanted unreasonable amount of money to help me with it. Duh! I had recently done bankruptcy, obviously I don't have the money! LOL. Silly people!
Ella - were the delinquent accounts that were reported after ban
Ella - were the delinquent accounts that were reported after bankruptcy accurate? If so, then the first step is to get those current and taken care of so that they're reported as being paid on time and in full. Rather than spending time, energy and money attempting to remove the bankruptcy notation from your credit report, start taking the time to put new positive information in front of it. Bring the accounts that came up after the bankruptcy current and then sit down and talk with someone about how you can create new money habits.
A credit repair company promising to remove a legitimate bankrup
A credit repair company promising to remove a legitimate bankruptcy is, at best, shady. I would not deal with them personally. The bankruptcy cannot be LEGALLY removed until it is time for it to fall off of the credit report. Just focus on rebuilding your credit, and you should make slow but steady progress.