We are all “Kings and Queens” of our own “Empires” and if you braved bankruptcy – you survived a strenuous battle. You faced the forces against you and conquered. Life can be brutal, and for many, it is a battlefield in which we must be prepared to put on our armor and take up our shield of protection.
Now, it’s time to move on and restore your kingdom. You want to know how to remove bankruptcy from your credit report. This is an assured strategy to regain power in your life. The 1st step would be to find all the facts by requesting a current credit report from the major credit bureaus (Experian, Equifax, and TransUnion). Study these reports and compare them so you know how to proceed. You may need to contact 1,2, or 3 of them. All three are important. Free credit reports offered once a year (in the past) are now available weekly to help Americans through 2023 – due to unprecedented times. AnnualCreditReport.com
Remove Bankruptcy from Credit Report
If a bankruptcy is on your record you need to know it is deleted automatically from accounts within 7 years for Chapter 13, and within 10 years for Chapter 7. Detailed information can be obtained from all 3 credit bureaus. If the bankruptcy is not removed within this time frame, you can dispute the record as directed on their websites. If there is inaccurate information concerning your bankruptcy you can also dispute this.
Remove Bankruptcy From Credit Report – Laws
The Fair Credit Reporting Act (FCRA) protects consumers from abusive credit practices while allowing lenders, employers, insurance companies, and others to use credit reports to determine credit risk.
All credit bureaus, banks, and credit card companies operate as private businesses, meaning they are not regulated by the government. The Consumer Financial Protection Bureau (CFPB) and the FCRA were put in place to help protect consumer rights by regulating the accuracy, fairness, and privacy of credit information.
According to the FCRA, you have the right to challenge incorrect or incomplete information, limit who can access your reports, seek damages from violators, and be told if your credit report is used against you. Individual states may have additional consumer reporting laws beyond FCRA provisions. What Is the Fair Credit Reporting Act (FCRA)? | Lexington Law
Secure Your Financial Future
If you don’t have time to file disputes on your own or need help, you can find a vetted credit advisor with good Better Business Bureau ratings. They can also assist you with answering questions unique to your specific situation. There is a list of credit counselors on the U.S. Department of Justice website LIST OF CREDIT COUNSELING AGENCIES APPROVED PURSUANT TO 11 U.S.C. § 111 | UST | Department of Justice
* Consider applying for a secured credit card in exchange for a security deposit.
* Make all payments on time with all other creditors – car, utilities, ins., etc.
* Invest in Credit Security Services Monitor
- Category : Professional Services