If you were to believe what you hear and see on television you would think that the credit rebuilding process is virtually impossible after filing bankruptcy. I’m not attempting to mislead you by any stretch of the imagination into thinking that it will be a walk in the park. The goal of this article is to give you some techniques that will allow you to repair your credit yourself.
Obviously there is no way that I could explain everything there is to know about bouncing back from bankruptcy, in one article. What I can do is give you a few tips that you can put to use immediately to start getting some fast results.
In most cases after a bankruptcy is fully discharged you will still have some old accounts listed on your credit report. If some of the old accounts are still listed on your report this isn’t a problem simply have the credit bureaus remove them, by showing them proof that they were included in your bankruptcy. If you have a few accounts that were not listed in your bankruptcy, you will need to start the credit dispute process.
I strongly advise that you start the credit rebuilding process in the same manner as you would if you wouldn’t have filed bankruptcy. You always request copies of your credit reports from all three credit agencies. Once you have the reports in hand, you should highlight all errors. If you find something on your credit report that you are unsure of, don’t take any chances… Dispute it anyway… It is better to be safe than sorry.
You are now at the point where it is time to take the gloves off. It’s time to begin the credit dispute process that I mentioned previously. To put it in a sentence or two, the credit dispute process is just a series of letters. When applying the credit dispute process make sure to include any proof that you may have that will validate your claims.
The difficult part is now behind you, and it’s time to play the waiting game. No worries though, you won’t have to wait to long. Why you may ask? Good question my friend… You won’t have to wait long because, legally the credit bureaus have 30 to 45 days to investigate you claims. If they fail to respond in the alloted amount of time then by law the credit bureaus have to remove the claims in question.
We have a little time on our hands so it would be wise to utilize it. We can do this by establishing a new line of credit. You can do this by applying for one or two secure credit cards. Whatever you do – do not make the mistake that most people make and apply for some sort of department store credit cards. Long story short they are useless and do more damage to help repair your credit than they do good.
DO NOT jump on the first secure credit card offer that comes along. Check the interest rates, review the terms of conditions. There is usually some sort of annual fee. Make sure to do your homework before making any type of commitment.
Be warned… You must pay a deposit that is equal to the amount of your credit card limit. This is done to protect the lender, if for some reason you fail to make a payment the lender will take their money from this deposit.
The reason that I am recommending this method to you is because the secure credit card lenders report to the credit bureaus just like the regular ones do. It’s a win – win opportunity, so don’t mess it up.
Don’t let your bankruptcy stop you from having the financial freedom that you deserve. Start the credit rebuilding process right now with my credit repair made easy system.
categories: credit rebuilding, credit repair kit, fixing credit report, do it yourself credit repair
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