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How To Remove a Bankruptcy From Your Credit Report

How To Remove a Bankruptcy From Your Credit Report

Debtors believe that bankruptcy is on our credit report for seven to ten years after discharge. In some situations, you can remove it. Learn how to remove a bankruptcy from your credit report.

Bankruptcy Due to Identity Theft

Bankruptcy related to identity theft is removable. The debtor must tell the three major credit report companies about your situation. Provide proof of the charge. Experian, Equifax and TransUnion will investigate the accusation and inform you if the bankruptcy is a misunderstanding.

Be zealous in getting this report off. You don't deserve to hinder your credit because of someone else's mistake.

Creditor Agreements & Vacating the Bankruptcy

If you decide to work it out with the creditor instead of filing, it is possible to have this removed. This is vacating the bankruptcy, and it acts as if bankruptcy never existed. Call the credit report companies and let them confirm the renewed partnership. You, however, must provide proof of the agreement. If report companies won't cooperate, contact a bankruptcy attorney to assist you in removing the error in the credit report.

Bankruptcy Errors

Some bankruptcy errors are removable. You can remove bankruptcy if errors appear in the bankruptcy report. In addition to identity theft, clerical mistakes and inaccuracy are reasons to remove bankruptcy. Like the other two, contact the credit bureaus for removal.

Chapter 13 Bankruptcy

You can also reduce the amount of time bankruptcy is on the report. The debtor must confirm that he or she filed for chapter 13. Instead of 10 years under chapter 13, it remains on the report for seven years. This offering is to encourage people to file chapter 13 and in turn, creditors receive payment through the repayment plan. Like the other three, contact the credit bureaus to reduce the bankruptcy listing.

Bankruptcy Isn't All Bad - It's a Fresh Start!

Unfortunately, traditional, legitimate bankruptcy cannot leave the report because you made the choice to file. Don't listen to companies that claim to remove bankruptcy for a fee because it's a scam. However, having bankruptcy on the report isn't a death sentence. Look at it as a restart button to rebuild your credit. In two years, you can have a good credit score - even with bankruptcy listed. For more information on bankruptcy, contact us.