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If your bankruptcy is going to be removed how many points will your credit score go up?
Wiki User
∙ 17y ago
If you have disputed to have the bankruptcy removed in your dispute letter request your free credit report to be sent to you with the updated information. When a CRA corrects information on your credit report they have to send you a free copy of your credit report showing the updated information. This of course is if you had to dispute to get it removed if it just rolls off on its own you may have to pay for your credit report if you've already gotten your free yaerly report. That depends on a lot of factors. Your credit score is calculated using certain formulas and factors, such as amount of total credit versus credit being used, number of accounts, payment history of current accounts, etc. You're best bet is to obtain your score after you think the bankruptcy has been removed. You'll probably have to pay for it, but it's worth peace of mind.
Wiki User
∙ 17y ago
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If you have a repossesion on your credit report when you file for bankruptcy will that be removed from your credit report?
No. The repossession will be its own listing. If is was including in the bankruptcy, it will be listed as 'included in bankruptcy' but it will still be listed as its own listing.UPDATE: Actually, you can force Equifax, Experian and TransUnion to remove a Bankruptcy from your credit report and you can do it legally using a federal law that is in place. Credit Bureaus MUST have "verifiable proof" of the "bankruptcy" in their files if they are going to report the negative item on your report. The dirty little secret the credit bureaus don't want you to know is that they do not have any "verifiable proof" in their files for any of the negative items on your credit report. The Federal Court that the bankruptcy was filed in may have this information on file but the credit bureaus don't. If you request the credit bureau to provide you with the "verifiable proof" that they have in their files they will remove the negative from your file.Not only can you get a Bankruptcy Legally Removed from your credit report but you can also get Foreclosures, Default Judgments, Tax Liens, Repos, collections etc...all removed. All negatives no matter how bad, how many or how recent ... they all can be removed legally!
When is a bankruptcy removed from your credit report?
Bankruptcy may remain on your credit report for up to ten years. However, what is probably more important to you is the impact that bankruptcy will have on your credit options. That depends heavily on how you handle your finances and credit accounts after bankruptcy. Many bankruptcy petitioners who manage their credit carefully and make an effort to rebuild credit are able to qualify for traditional mortgages and car loans within about two years.UPDATE: Actually, you can force Equifax, Experian and TransUnion to remove a Bankruptcy from your credit report and you can do it legally using a federal law that is in place. Credit Bureaus MUST have "verifiable proof" of the "bankruptcy" in their files if they are going to report the negative item on your report. The dirty little secret the credit bureaus don't want you to know is that they do not have any "verifiable proof" in their files for any of the negative items on your credit report. The Federal Court that the bankruptcy was filed in may have this information on file but the credit bureaus don't. If you request the credit bureau to provide you with the "verifiable proof" that they have in their files they will remove the negative from your file.
Can a person get a credit card for going through bankruptcy?
After bankruptcy one has to rebuild their credit rating. If or how fast one will get a new credit card depends on the issuing company. Alternatively one can apply for a pre-paid credit card.
What is the best way to get a credit card after bankruptcy?
The best way to get a credit card after bankruptcy is to show a sense of money management to the prospective bank, make money elsewhere and be sure to keep your credit scores going upwards.
After Chapter 7 bankruptcy how long will it take before you can get a good to excellent credit status?
10 years and your going to have to start over like u never had credit and make sure that the credit angencies take it off ur credit report No 10 years is not true, you can get excellent credit as soon as you re-establish credit, the best way is with a unsecured credit. Try to get 3 very small balances and pay the balance in full or more than the monthly payment each month. Your credit is driven by having credit. Try reading a few books like Credit After Bankruptcy, it give you much more details and it also end the myths of bankruptcy. witihin 2-3 years after the bankruptcy has been filed. bankruptcies can take off up 200 points off your credit score. you can improve your credit rating by 1)continue to make all payments on time 2)follow up on your credit report and scores 3)being patient with time good luck
If you have a repossesion on your credit report when you file for bankruptcy will that be removed from your credit report?
No. The repossession will be its own listing. If is was including in the bankruptcy, it will be listed as 'included in bankruptcy' but it will still be listed as its own listing.UPDATE: Actually, you can force Equifax, Experian and TransUnion to remove a Bankruptcy from your credit report and you can do it legally using a federal law that is in place. Credit Bureaus MUST have "verifiable proof" of the "bankruptcy" in their files if they are going to report the negative item on your report. The dirty little secret the credit bureaus don't want you to know is that they do not have any "verifiable proof" in their files for any of the negative items on your credit report. The Federal Court that the bankruptcy was filed in may have this information on file but the credit bureaus don't. If you request the credit bureau to provide you with the "verifiable proof" that they have in their files they will remove the negative from your file.Not only can you get a Bankruptcy Legally Removed from your credit report but you can also get Foreclosures, Default Judgments, Tax Liens, Repos, collections etc...all removed. All negatives no matter how bad, how many or how recent ... they all can be removed legally!
When is a bankruptcy removed from your credit report?
Bankruptcy may remain on your credit report for up to ten years. However, what is probably more important to you is the impact that bankruptcy will have on your credit options. That depends heavily on how you handle your finances and credit accounts after bankruptcy. Many bankruptcy petitioners who manage their credit carefully and make an effort to rebuild credit are able to qualify for traditional mortgages and car loans within about two years.UPDATE: Actually, you can force Equifax, Experian and TransUnion to remove a Bankruptcy from your credit report and you can do it legally using a federal law that is in place. Credit Bureaus MUST have "verifiable proof" of the "bankruptcy" in their files if they are going to report the negative item on your report. The dirty little secret the credit bureaus don't want you to know is that they do not have any "verifiable proof" in their files for any of the negative items on your credit report. The Federal Court that the bankruptcy was filed in may have this information on file but the credit bureaus don't. If you request the credit bureau to provide you with the "verifiable proof" that they have in their files they will remove the negative from your file.
Can a person get a credit card for going through bankruptcy?
After bankruptcy one has to rebuild their credit rating. If or how fast one will get a new credit card depends on the issuing company. Alternatively one can apply for a pre-paid credit card.
Does updating collection accounts to a bankruptcy lower your credit score?
The fact of filing bankruptcy is already going to lower your credit score, and the point of bankruptcy, part of it anyway, is to resolve unpayable debt such as collection accounts. It is in your best interest to add the collection accounts to your bankruptcy, but if you consult your BK attorney, he is likely to advise you of this. The bankruptcy is the first next step in repairing your credit and improving your credit score.
What is the best way to get a credit card after bankruptcy?
The best way to get a credit card after bankruptcy is to show a sense of money management to the prospective bank, make money elsewhere and be sure to keep your credit scores going upwards.
When you have a debt for overpayments by social security can you declare bankruptcy on the social security debt and still keep your credit card?
== == NO, you have to turn in any credit cards and include the credit card debts in the bankruptcy. You can't pick and choose what debts you are going to include.
Where can someone erase credit card debt without going into bankruptcy?
There is no legal way to erase credit card debt without filing for bankruptcy. If this was possible, then the inventor would be extremely rich, and no-one would have any debts.
After Chapter 7 bankruptcy how long will it take before you can get a good to excellent credit status?
10 years and your going to have to start over like u never had credit and make sure that the credit angencies take it off ur credit report No 10 years is not true, you can get excellent credit as soon as you re-establish credit, the best way is with a unsecured credit. Try to get 3 very small balances and pay the balance in full or more than the monthly payment each month. Your credit is driven by having credit. Try reading a few books like Credit After Bankruptcy, it give you much more details and it also end the myths of bankruptcy. witihin 2-3 years after the bankruptcy has been filed. bankruptcies can take off up 200 points off your credit score. you can improve your credit rating by 1)continue to make all payments on time 2)follow up on your credit report and scores 3)being patient with time good luck
How to remove a bankruptcy from credit report?
The bankruptcy will remain on the credit report until the required ten years has expired. UPDATE: Actually, you can force Equifax, Experian and TransUnion to remove a Bankruptcy from your credit report and you can do it legally using a federal law that is in place. Credit Bureaus MUST have "verifiable proof" of the "bankruptcy" in their files if they are going to report the negative item on your report. The dirty little secret the credit bureaus don't want you to know is that they do not have any "verifiable proof" in their files for any of the negative items on your credit report. The Federal Court that the bankruptcy was filed in may have this information on file but the credit bureaus don't. If you request the credit bureau to provide you with the "verifiable proof" that they have in their files they will remove the negative from your file.
How long does it take for your credit to get better after you are discharged from Chapter 13 bankruptcy?
Your credit score starts going up the minute the bankruptcy is filed. Debts incurred after the filing (even the day after), are exempt from the bankruptcy. If you make house and/or car payments on time, your score goes up Legally, they can hold it for up to 10 years.
When is the best time to give back a vehicle when bankruptcy is an issue?
IF YOU GOING TO FILE BANKRUPTCY KEEP YOUR CAR AND PUT IT IN YOUR BANKRUPTCY IF YOU NEED YOUR CAR. IF YOU JUST WANT TO GIVE IT BACK JUST GIVE IT BACK ANY TIME BUT THE LOAN STILL GOING ON YOUR CREDIT FILE SO IF I WAS YOU I'LL PUT IT IN WHAT EVER CHAPTER YOUR FILEING.
How long after chapter 7 can you get credit?
You can get credit the next day if you want upwards of 475% interest.... Better Idea. Stay away from credit if you are going to claim bankruptcy, stay the heck away from the drug that put you there.. you know, that drug called credit!!
