After bankruptcy a credit report doesn’t automatically start to go up. My credit score was affected, as I expected it to happen, when I filed bankruptcy. What I didn’t expect was to have the same collections and charge offs being reported, still as collections and charge offs a year after my case was discharged. Not only did I have the bankruptcy but now I was still showing collections. It wasn’t until then that I really started to consider how long it was going to take for that bankruptcy to come off my credit report and it became obvious that I was going to have to address what was left behind.
I researched before I filled how long it would take for the bankruptcy to come off my credit report and if there was any possibility to have it removed. After doing this I was convinced that there was going to be at least a 10 year period that I was going to have to wait to see it come off my report and have a clean credit report again. Though it was tough to make the decision, I couldn’t continue to deal with the debt, the damage that it was doing to my family and I had reached its limit and I decided to file the bankruptcy.
My experience with having the bankruptcy removed from my credit report came by accident. I was addressing the mistakes on my report when I was told that the bankruptcy might be a candidate to be removed. Bankruptcy and a credit report usually go hand in hand, for ten years, by what I understood. The possibility of having it removed was news to me, being that I hadn’t considered trying to have it removed.
It wasn’t until I talked to a professional about my situation that I got some information that I missed while doing research myself. I also learned that I don’t have to wait 10 years to do anything with credit. I was under the impression that the black mark on my credit would prevent me from owning a home again and having credit for ten years. When I realized I could apply for credit in spite of the bankruptcy I was very surprised and hopeful of owning a home in as little as three to five years.
Don’t assume that a bankruptcy is the end of your credit report. There are options.
Article Continued
As I mentioned above my bankruptcy credit report wasn’t looking very good. I had the BK and still the negative accounts. When I discussed it with the credit repair professionals, they told me I could have the mistakes taken off, not corrected. A correction still shows as a derogatory, it’s much better to have it removed. Which is what they assured me, they could get done.
My bankruptcy credit report now looks better with all the minor things removed. Yes the bankruptcy is still there but I know they’re working on getting in off. I’m giving it some time. If it doesn’t get done in the initial quoted time, then I’ll reconsider my approach. For now I’m grateful that there has been improvement and I’m getting back on track financially. If you want to try to remove the bankruptcy from your credit report, there are some good credit programs you can use like Credit repair magic. I opted for getting a free consultation from one of their experts and get the facts from them. That is what they do, after all. I didn’t have the time to learn and apply all the bankruptcy information.
It’s a great feeling to know I’m improving after all the months of feeling down and feeling like a failure. It’s not an easy decision to file bankruptcy and considering the bankruptcy credit report I was left with its easy to see why someone would be down. Getting the help I needed was crucial to not just my financial recovery but to my mental and emotional recovery also.
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