How can bankruptcy/foreclosures be removed from credit report?
Question:
Answer:
that's the purpose of the credit rating company
wait 7 years
Can't be for 7 years, maybe even longer now.
I don't think they can be. Maybe after a certain period of time?
I suggest get credit counseling most of them are free and works well too.
with time
credit problems check my profile
The 7 year number that we hear about is not how long you have to wait to have it removed from your record, that is how long you have to wait before filing for bankruptcy *again*. Ten to thirteen years is the number that I was told by an attorney.
Once the bankruptcy is discharged you should write the company that is still reporting and ask them to remove their trade line from your credit report. They will usually comply if it's in writing.
You can't really "remove" a bankruptcy from a credit report. It will appear on the credit report for 7 to 10 years. However, often places will ask you "have you ever filed for bankruptcy?" and you have to answer truthfully.
Even if you have a bankruptcy, you can begin rebuilding your credit. You can get a card with a high interest rate or secured card and make a few small purchases... then pay them monthly on time. Continue with your mortgage and car payments on time. This will help increase your credit score.
In my state 7 years holding on being able to regain a credit rating, the record is never clean, if that was the case there would be more people going that route. There are more bankrup people today than ever with the race to be better than your neighbor or from real hardships. People take more chances aith their money. I had to go that route do to a accident at work. I learned to always take out the disability insurance on your loans. Dont feel bad take the ball and run to regain your ground it not the end of the world by a long shot!
They cannot be removed, but you can work hard to restore your credit, it will take time. Get a credit card with a very small balance (400.00 or less) and use it, pay it off each month. Make sure you HAVE THE MONEY BEFORE YOU CHARGE IT!!, as the months roll on, it will help show you are building better credit. Also, NEVER be late on any payments, none. Downsize to whatever it takes to make this happen. Learn the difference between need and want. Also, check your credit often and you should get free counseling at a local bank as to more and better information than I have shared with you here. Blessings to you. Life is difficult-Read "The Road Less Traveled" by M. Scott Peck
lazor_braids needs to find a better lawyer.
At least one that can read simple laws. Please refer to the Fair Credit Reporting Act. Chapter 7 bankruptcies are reported for 10 years, Chapter 13 for 7 years.
You can not remove the actual report of the bankruptcy. This is a public record placed by the Bankruptcy Court, and unless the court removed it (not likely) then the listing will stay on your credit report.
Foreclosures are placed by the creditor (unless a judgement was involved). The creditor would have to contact the agency to have it removed (again, not very likely). Otherwise it will stay on your report for 7 years.
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