If you have filed bankruptcy you should expect your credit will be severely damaged. However there is hope, you can take action to remove your bad credit and by building some positive credit you can have a high score. nnThe truth is that this mark does not have to remain on your credit for 10 years. To remove it we suggest:nn1. Dispute the listing with the bureaus directly.nnThis is done by sending a dispute letter to the bureau; you can do this yourself or hire a service to do it on your behalf. The bureau will then conduct an investigation into the listing. However bureaus do not check public records when they investigate a dispute, thus the listing will not be verified.nnCongress passed the Fair Credit Reporting Act and this says that the bureaus must remove any item on your report that can not be verified. People frequently ask if credit repair is legal. It is not only legal but this act explicitly says any mark you do not feel is accurate can be disputed. There will never be any legal ramifications for filing a dispute with the bureaus.nnBefore you dispute the bankruptcy it is a good idea to make sure that all other negative marks read \"included in bankruptcy.\" The reason is once the initial bankruptcy mark is removed you will dispute all the other negative items because you do not have a bankruptcy mark on your report. There are rumors that it is much easier to remove this mark after two years.nn2. Dispute each negative item.nnThis can be done because no where on your credit report does it say you have filed a bankruptcy so how can these negative items be included? Upon an investigation the marks should be erased and this will provide you with a clean report.nn3. Open a new revolving line of credit such as a credit card. This will help you build some positive credit on your report.nnBy making your on time monthly payments you will create a positive payment history. Additionally keep your monthly balance at 25% of your available limit because this will show the bureaus that you do use your card and use it responsibly. This will improve your ratio of available credit to debt, a very important factor when your score is calculated.nnIt might not be the most ethical to dispute items you know are accurate on your report. However is it ethical for lender to charge you 30% interest rate for missing a payment, no matter how long you have been a model customer?nnIn sum you can remove a bankruptcy and all the negative marks on your credit report. If you build some positive credit and remove the negative credit you can achieve a very high score. This will improve your quality of life by; lower interest rates, more purchasing power, and extra money.
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