Home > Credit Repair > Bounce Back Fast After A Bankruptcy!
Bounce Back Fast After A Bankruptcy! |
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Check your credit report before filing
bankruptcy to make sure that you have properly listed your debts and creditors. Generally you list all items from your credit report in your personal bankruptcy in addition to any other items you know exist that may not be on your credit report. For example, if you have collection that is not on your credit report, but which you know exists, list it also in the filing. That is why you need to check your credit report so that any information you give entered correctly. Check your credit report after bankruptcy also. It would ensure you that the items on your credit report have been properly reflected as a result of your bankruptcy. Many people while they check credit report often face the problem of showing several accounts as open and overdue even if they were closed and obligations wiped out as part of the bankruptcy. So, if you are entrapped in suck kind of problems, you should contact any of the three major credit bureaus, Equifax, Experian and TransUnion. You can ask the issuing company that you have already closed the accounts but they had reflected them the other way. If you have other mistakes even trivial, such as typos and incorrect date of birth etc. don't wait. Directly notify the credit bureau. It's important because your credit report is based on information in your credit report, so errors on your credit report seriously dampen your score. Hence, check your credit report on a regular and ongoing basis. Under the federal law, a bankruptcy can stay on your credit report as long as 10 years. It's not only because it lowers down your credit score but also make you unfit for getting further loans. So, if you have dreams in your eyes for the future and you want to take loan, you should be very careful regarding these issues. And there is nothing convenient for you than checking your credit report to find out the errors. Frankly, if you check your credit report regularly, you would come to know if there is anything erroneous on your credit report. Contact the issuing company and ask them to correct the mistakes on your report. When you apply to correct the inaccuracies, you need to provide some of your personal information. This information includes: your name, your address (present as well as past), date of birth, social security numbers, phone number, spouse's name etc. After you provide these, your credit-reporting agency would run an investigation on your creditors and if they find any kind of error, immediately it would be corrected. And so it's very essential to check your credit report regularly. But before you set out on your voyage to fix the errors, you should make a plan of yourself. First and foremost, note down those records that you believe to be inaccurate, erroneous, misleading or outdated. Once you have noted each questionable item, next step towards your credit repair is to rank them. After erroneous personal data, rank the most damaging information first, followed by the next most damaging information etc., until those items that are neutral. Do these for each credit report, as they may not have the same questionable information on them. So, check your credit report on the websites of each credit bureau or simply order a copy from each of them. It's better for you to ask and check your credit report from all the three major credit-reporting agencies because the big three generally don't share any kind of data and information. So, if you get three different credit reports, you would come to know where you actually stand regarding your credit status. It's also important because you need to write to all the agencies requesting an investigation to verify the status of most damaging item reported by any of the agencies, and asking for a credit repair. |
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