Credit Repair Articles

Credit After Bankruptcy

Credit Repair Articles - Bankruptcy

Someone contacted us recently asking us if our product would help them remove their bankruptcy from their credit report. They said that their credit was basically good, but there was a bankruptcy from a while ago that was "killing" their score.

So the first question in regards to credit after bankruptcy is this:

Do I try to remove the bankruptcy from my credit report? Can I? How do I?

Well, most people don't like to hear this but I'm not going to lie to you and tell you what you want to hear.

I am here to tell you the TRUTH.

And the truth is, there's a good chance you won't be able to remove the bankruptcy from your credit report. I mean, it's YOURS, isn't it? Unless there were considerable problems with the bankruptcy process itself, it is unlikely that the bankruptcy record is going to go away.

Here's another important part of the truth:

Even if you COULD get the bankruptcy removed from your credit report, there's a good chance that it is better for your CREDIT SCORE if you DON'T.

People are often SHOCKED when they successfully remove a bankruptcy from their credit report only to find that their credit score has DROPPED as a result.

Wouldn't that stink?

You go to all the trouble of removing a bankruptcy from your credit report, you spend all kinds of money in the process, and when you've finally accomplished your goal, your credit score tanks and you're worse off than you were before.

Believe it or not it happens, and the reason it works that way is because of the way the FICO scoring model treats people with a bankruptcy on their credit.

But if I can't or shouldn't remove the bankruptcy, what should I do?

Believe it or not it is perfectly possible to reach even a 700+ FICO score with a bankruptcy on your credit report. The #1 rule is to NOT screw up your credit any further. The #2 rule is to add new positive accounts. The only other required thing is to make sure that any accounts included in the bankruptcy are listed as such.

And that's the truth about credit after bankruptcy. That is really all it takes.

I'm not going to tell you those steps are necessarily easy. They aren't.

People often run into road blocks and issues with things like uncooperative creditors.

That's why the Credit Repair Intelligence System comes with personalized support through our members-only forum, so that when someone has a unique situation such as attempting to rebuild their credit after bankruptcy, they have the input of experts available to help them through the process.

For more information on credit after bankruptcy, what the real score killer is, and how to fix your credit after bankruptcy, visit www.CreditRepairPublishing.com and find the links for the "Credit Repair Intelligence System".

 


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