Bankruptcy and Credit Repair Letters
Do you need to repair your credit after a bankruptcy? The response in almost every situation I have ever been witness to is yes, yes, yes! People generally believe that after a bankruptcy, everything in the bankruptcy will be erased off their credit report. What’s worse, many folks are advised by their lawyer that this will happen and that they don’t need to do anything themselves to fix their credit after a bankruptcy.
Sadly, the fact is that in most situations, debts that were included in the bankruptcy continue to report as delinquent even post-bankruptcy. It is a general rule that more than 90% of the time, balances still show up on items that were included in a bankruptcy. Of course, the outcome for your credit is disastrous. Delinquencies after a bankruptcy are looked at very unfavorably by underwriters—as well they should be. But if you have items that should have gone away still reporting, this is terribly unfair and grossly detrimental to your credit profile.
The best strategy for improving your credit after a bankruptcy is to attend to the matter on your own. Acquire a copy of your credit report and scan it for any items that may still be reporting after being included in your bankruptcy. You’ll want to produce creditletters disputing any and all such items. You can find hundreds of sample letter templates online. Find one you like and customize it to your own disputes. It is a great plan as well to include a few words asserting that the things you are disputing were included in a bankruptcy. If youare able, also give them your bankruptcy’s case number and the place of the bankruptcy court. That informationinfo~data} may not be absolutely necessary to the process and you will usually get goodpretty good results without including it, but any extra info you can include can only speed the process along.
Remember, Every person has the right to have everything on their credit report reporting with perfect accuracy. If you have items that are still unfairly appearing after a bankruptcy, dispute them. Credit repair after bankruptcy is, in the vast majority of cases, a necessity.
