Is it possible to remove bankruptcy from your credit report?
Is it possible to remove bankruptcy from your credit report?
You must be logged in to post a comment.
Using Gravatars in the comments - get your own and be recognized!
XHTML: These are some of the tags you can use: <a href=""> <b> <blockquote> <code> <em> <i> <strike> <strong>
No, it is impossible to remove bankruptcy from your credit report. It will remain for 10 years before it can be removed, but the more time that passes the more your FICO score will improve. Generally if you had a lot of debt before, and you filed for bankruptcy, you will be more credit worthy now since those debts no longer have a hold on your income.
No, you cannot. Most credit reporting agencies maintains records for 30 or more years. The record will stay with you forever but you can build good credit record after the bankruptcy by being debt free or make timely payment without delay.
No but almost instantly you can start rebuilding. Fingerhut is a good place to start, they usually give people a small credit limit to begin with. Just start with one place and six months later try two other places. Just do not apply for more that three cards/loans per year. If you do get credit, you will have to pay the highest interest.
Bankruptcies don’t go away for quite some time (like 7-10 years), but yes, you can rebuild your credit from there. Just don’t over-leverage yourself again.
yes it takes time like 7 years so start building your credit now
its called a secured credit card it is secured by the deposit you make which is your little its is going to take time to build your credit
sorry but bankruptcy stay on your credit record for years depending on how you file a bankruptcy on the amount of time. It’s 10 years for a chapter 7 to be off and 7 years if a chapter 13 was filed. This is the government’s way of persuading you to pay back your debts and so they also give you a punishment in the form of notifying everyone that you file so it hit your credit report. You can work at rebuilding by getting a credit card and repay it a every billing period. Hers is a site that may help you:
Generally, no, but you can use credit repair agency to fix your credit – for example this one – http://creditreport.fateback.com – They can clean lots of other bad stuff from your credit report.