Repair Credit after a Bankruptcy - Yes, It is Necessary!
Nearly all people who go through a bankruptcy are told by their lawyer that their credit report will take care of itself and there's nothing they need to do about it. Rarely does that turn out to be the case. Most of the time, a bankruptcy will leave lingering items on your credit report for years and years. Sometimes creditors will continue to report on items that were included in a bankruptcy and this is absolutely not legal. Other times, those creditors will just fail to update the accounts to show a zero balance. This too is illegal.
As far as credit repair goes, repairing your credit after a bankruptcy is just about the easiest scenario you could be in. Most likely, you will probably want to write credit dispute letters for all accounts you included in your bankruptcy. Why? There are two reasons: 1) usually creditors do not respond to these letters since you don't owe them anything--this causes the account to be deleted; and 2) because most of the time the creditors are reporting these accounts incorrectly. The second reason is the reason that gives you the right to dispute the account. The first reason is the big benefit to you.
If you had to include a large number of accounts in your bankruptcy, then you are going to have to write a large number of credit repair letters. This can be a pain, but it is well worth your time. You could hire one of the thousands of credit repair companies, but if you consider what these companies really do and how much you will have to pay, you will probably feel like you're getting ripped off. Like anything, you have to look at your whole situation. Can you afford 3 hours of time to save yourself $600 - $1000? If so, you are an ideal candidate for self credit repair. Especially after a bankruptcy where it is a simple matter of mailing out one wave of credit dispute letters, self credit repair is really the best option--and it can be done for only the cost of the postage you'll buy to mail the letters.
To further simplify the process of getting those credit repair letters out, check out the free tool available to the public at my website. It enables you to create all your credit dispute letters in a matter of minutes. Did I mention it's free to consumers?
As far as credit repair goes, repairing your credit after a bankruptcy is just about the easiest scenario you could be in. Most likely, you will probably want to write credit dispute letters for all accounts you included in your bankruptcy. Why? There are two reasons: 1) usually creditors do not respond to these letters since you don't owe them anything--this causes the account to be deleted; and 2) because most of the time the creditors are reporting these accounts incorrectly. The second reason is the reason that gives you the right to dispute the account. The first reason is the big benefit to you.
If you had to include a large number of accounts in your bankruptcy, then you are going to have to write a large number of credit repair letters. This can be a pain, but it is well worth your time. You could hire one of the thousands of credit repair companies, but if you consider what these companies really do and how much you will have to pay, you will probably feel like you're getting ripped off. Like anything, you have to look at your whole situation. Can you afford 3 hours of time to save yourself $600 - $1000? If so, you are an ideal candidate for self credit repair. Especially after a bankruptcy where it is a simple matter of mailing out one wave of credit dispute letters, self credit repair is really the best option--and it can be done for only the cost of the postage you'll buy to mail the letters.
To further simplify the process of getting those credit repair letters out, check out the free tool available to the public at my website. It enables you to create all your credit dispute letters in a matter of minutes. Did I mention it's free to consumers?