June 19, 2024

Obligate Law

Professional Law Makers

Can You Remove Bankruptcy From Credit Report

3 min read
Can You Remove Bankruptcy From Credit Report

There are a lot of people who are forced by circumstances to declare bankruptcy. Unfortunately, once they have declared bankruptcy, their credit score goes south fast. You might as well have the words “risky” and “unworthy” tattooed on your forehead. It is highly doubtful if you would be able to secure loans when you have a history of bankruptcy. This does take a toll on your credit score, and often, your credit score will take a plunge.

Can you remove bankruptcy from credit report? Many people will argue that you cannot. They’d point out the “impossibility” of removing it from your credit report. However, you definitely can do something about it. Bankruptcy is disputable. You can dispute it the same way you can question other derogatory accounts on your report.

“But that account is truly mine! How can I dispute it?” Take note that whether the record or account is truly yours – it doesn’t matter. The question that would be asked by the credit bureaus is – “Can it be verified?” If an account is verifiable, it stays. However, if the bureau cannot verify the account, it can be deleted from your credit report. The burden of proof here does not even rests on you. It rests on the credit bureau concerned. So, can you remove bankruptcy from credit report? Yes, you can.

There are some things that you should avoid when you try to repair your bad credit report. First and foremost, you must be completely honest. Not only is it risky, it is also unnecessary. You can dispute and try to repair your own credit report without resorting to lying.

When it comes to disputes like this, you’d probably like to know that most credit bureaus do not check public records. You can dispute an account and remove bankruptcy from credit report without an agency resorting to your public records. Yes, they say that they do and they claim that they have a system for it but they really don’t. Credit bureaus also avoid having you or anyone else resorting to the courts for any legal concerns.

Honestly, it is a tedious process. People will not be lying if they say that in order to delete bankruptcy from credit report, you might have to invest a lot of your time and energy into it. Bankruptcy is without a doubt the hardest item to remove from a credit report. Often, people would say that in order for you to remove bankruptcy from credit report, you would have to remove every other bad accounts from your report.

Read your credit report carefully. Make sure everything is in order including your address. Often, your debts and credit history is tied with your address. Take note of the accounts that are “included in bankruptcy” and place them in dispute. Creditors have very little resources to verify the veracity of these accounts.

When you filed for bankruptcy, you wanted a fresh start. It will not do you good if your bankruptcy history would haunt you financially. Dispute anything that is not accurate so that you’d remove bankruptcy from your credit report.

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