You can't have a bankruptcy removed from your credit report if it's correct. Chapter 7 bankruptcy remains on your report for seven years and Chapter 13 stays for 10 years. Under the FCRA, if there are inaccurate entries in your credit report regarding your bankruptcy, you can challenge them and have them removed. However, contrary to popular belief, you can eliminate a bankruptcy from your credit report ahead of time and you can get credit after a bankruptcy.
You DO NOT have to wait seven or ten years after your bankruptcy filing date to get back a mortgage, car loan, or any other type of credit. You can eliminate bankruptcy from your credit report if it is false, misinformed, refuted, or inaccurate. You don't have to do anything to get a bankruptcy removed from your credit report. Bankruptcy and any included accounts will be automatically deleted.
Send a letter of dispute and ask them to correct the error and eliminate the bankruptcy. Verified bankruptcies cannot be removed from your credit report. However, you can delete them if they are inaccurate. Finding & discussing these errors can be tricky.
This is how you can do it. After receiving the letter, mail it to the credit reporting agencies and demand that they immediately remove the bankruptcy, as they knowingly provided false information and thus violate the Fair Credit Reporting Act. We'll explain why it works and what to do so you can start repairing your credit today, even with a bankruptcy in the past. The most important thing you can do to improve your credit score after a bankruptcy is to eliminate bankruptcy from your credit report.
The Fair Credit Reporting Act (FCRA) describes credit reporting limitations for bankruptcy as follows. If you contest an item on your credit report and a credit bureau cannot verify that it is correct, you must delete the account from your report. If you haven't found any inaccuracies in your credit report information, unfortunately there is nothing that can be done to remove it prematurely, you'll have to wait 7-10 years for it to disappear from your credit report. Yes, you have certain protections under the Fair Credit Reporting Act (FCRA), but credit bureaus also have protocols in place to shut down consumers who don't have legitimate disputes.
Even after your bankruptcy is settled, you also have to deal with the aftermath, namely repairing your credit. The FCRA allows credit bureaus to include bankruptcy statements on credit reports for up to 10 years in some cases. I'm only saying this because if you contact the credit bureau and they correct it on your credit report, it's likely that it will appear again the following month, because it's on the bank tape where they continue to report the same thing and they also correct it at the end. You can work to improve your credit score even when bankruptcy is still on your credit reports.
Read on to find out how to remove a bankruptcy from your credit report and other ways you can recover from a bankruptcy on your credit report. In accordance with the Fair Credit Reporting Act (FCRA), these deadlines set the maximum time for a bankruptcy filing to remain on your credit report. You may not have a lot of expendable income to hire a professional credit repair company, but you probably don't have the knowledge or emotional bandwidth to address it yourself either.