With a bankruptcy mark on your report your score will be lowered considerably. However there is hope, you can remove this mark and by building some positive credit you can create a good score.

There is a lot of inaccurate information that claims a bankruptcy will be on your report for 10 years. This is not true you can remove it without waiting 10 long years. We suggest that you:

1. Dispute the mark with the bureaus.

You can do this yourself or hire a credit repair service to dispute the mark on your behalf. Did you know that the bureaus do not check public records when they investigate an item? Public records are where this mark is recorded and where the bureau would find verification.

Congress passed the Fair Credit Reporting Act and this says that the bureaus must remove any item on your report that can not be verified. People frequently ask if credit repair is legal. It is not only legal but this act explicitly says any mark you do not feel is accurate can be disputed. There will never be any legal ramifications for filing a dispute with the bureaus.

Before you dispute the bankruptcy it is a good idea to make sure that all other negative marks read "included in bankruptcy." The reason is once the initial bankruptcy mark is removed you will dispute all the other negative items because you do not have a bankruptcy mark on your report. There are rumors that it is much easier to remove this mark after two years.

2. Once you have removed the initial mark, you can start disputing each negative item.

You will be able to challenge the mark on the basis that your report does not show a bankruptcy. Therefore each item should be deleted by the bureaus upon investigation.

3. We suggest you start building positive credit. This is most effective by opening a new revolving line of credit such as a credit card.

With on time payments you will build a positive payment history, this is heavily weighted when your score is calculated. It will also help if you keep your balance under 30% of your limit because this will help your utilization ratio. This means you will have better ratio of available credit to debt.

While it is not illegal to dispute an accurate mark on your report it may not be the most ethical thing to do. However in my opinion charging people outrageous interest rates upwards of 30% and charging late fees is not ethical either. 

In sum a positive payment history, report clear of derogatory items, and a good ratio of available credit to debt is the recipe for a 700 plus score. This will improve your quality of life by; saving you money on large deposits, high interest rates, and the embarrassment of a denial.

For a free credit consultation call 1-866-246-7311 or for a free credit repair letter used to dispute the bureau or for a free online credit repair e-book visit us.