When a consumer files for bankruptcy, that bankruptcy remains on their credit report for 7 years (sometimes longer). It typically becomes a black mark that results in paying higher interest rates, difficulty obtaining credit, and a BIG hassle when trying to qualify for a home mortgage. Not to mention the fact that for the next 7-10 years, a consumer ends up feeling embarrassed or ashamed every time a lender needs to run their credit. That fear of being turned down for a loan or a credit card can be agonizing for many people.
Most people believe that there isn’t anything you can do other than wait the 7 years for that bankruptcy to be removed from the credit report… but there IS a better way!
Removing a Bankruptcy from Your Credit Report
A bankruptcy is no different than any other negative item on your credit report. If it is disputed, the credit bureau has 30 days to verify that they information is true and accurate. If they can not do this within the required 30 day time frame, the negative item must be removed! This is the law in place to protect consumers and if you have negative credit items, we can use this law to your advantage..
Our process beginning on day one, is to dispute all negative items on your credit report, and this includes bankruptcies. We have had great success in getting bankruptcies removed within just a few months, rather than having it fester on a credit report and cause havoc every time you need to have your credit pulled.
If you or someone you know has had a bankruptcy in the past 7 years, there’s no reason to have a “black credit cloud” lurking around every corner. Contact our office and we’ll explain how we can turn it into clear skies and a brighter future without waiting years for it to come.