How To Get Rid Of Bankruptcy On Your Credit Report
A bankruptcy notice on a credit report can hinder a person in getting jobs, loans and other financial support. Most probably, if you have filed a credit report that declares your personal bankruptcy, your request will instantly be rejected. However, there are times when bankruptcy entries are inaccurately listed in some credit reports. And if this happens to you, you need to have the bankruptcy entry removed to avoid transaction problems.
Reversing a reported bankruptcy can be a bit challenging. You will have to contact many agencies and companies in order to successfully remove this false bankruptcy claim on your credit report. You will also need to spend some cash in order for your claim to be processed. Nevertheless, once the bankruptcy report has been removed, you will be able to easily transact with financial institutions if needed be. So in order to get rid of a bankruptcy on your credit report, here are some steps that you can take.
Start a claim
If you are sure that there is no truth in your personal bankruptcy, you can start a claim to have your report investigated. First, find an agency that will help you start a claim. If you do not know any credit report agency, you can make use of a search engine. The top three credit report agencies that you can seek help from are Equifax, Experian and TransUnion. You can also search for online agencies who can investigate on your bankruptcy reversal claim. One online website that produces credit reports is AnnualCreditReport.com.
Support your claim
Once you have reviewed your credit report and you know that the entry for bankruptcy is invalid, you have to send credit report companies letters and proper documentations that will support your claim. Obtain financial statements, bank statements, and all other documents that will serve as proof that you have a strong credit background. Usually, the investigation can take a really long time, so be patient. You can also notify the agency to give you updates every now and then.
Contact your creditors
Your creditors’ statements will greatly aid in the processing of your credit report. Simply contact your creditors and have them verify that you are in a sound financial condition. They have to attest that there is a misstatement in your credit report. If in case there is any creditor who believes that you really are undergoing personal bankruptcy, you will have to deal with that creditor and file a dispute against them. Once again, you will need to supply strong evidence using back up documents to resolve the dispute.
Review the results
After the investigation has been finished, and in case your claim was successful, you need to talk with your credit report agency and creditors to settle the erroneous bankruptcy. Acquire your corrected credit report and review it properly. If you believe that some information are still suspicious, you can ask the credit report agency to further explain to you the contents of the report.
Send out correction letters
Since you are the one who has been troubled by the false bankruptcy entry, you are entitled to have the credit reporting agency to send out correction letters to those who requested your credit report for the last months. You can order them to notify these individuals or companies that have mistakenly believed the bankruptcy on your credit report.