Credit Repair After Bankruptcy
Effective credit repair after bankruptcy is over
The law requires all credit reports fairly and accurately state each persons history. This duty owed by agencies includes both positive and negative entries. Legal credit repair after bankruptcy must be based upon valid entries that improve scores, and further, all positive events you intentionally create must be included. Success then depends upon your knowledge of positive events that agencies must include.
Events that help ratings
The most important factors, in order of importance, should become your initial focus. Improving scores does not occur overnight, yet can be exceptionally effective over a period of months:
- Timely payments are the single most influential factor.
- New credit extensions represent a positive trend.
- Excess credit, unused, indicates responsible money management.
- Home purchases and mortgages represent stability.
Caution: services that promise credit scores improvements by removing adverse entries have no legal basis for their claims. In most cases, these services are scams. In rare circumstances, erroneous entries may be removed by initiating a formal complaint process, yet this process is woefully ineffective with all disputes seemingly resolved in favor of creditors. Errors seem to be removed only in the event that verified documentation proves creditors can no longer claim innocent error.