Don Tate
Check out TheTopTens to view thousands of top ten lists including the best credit repair companies, top car insurance companies, and best web hosting services.
View all articles by Don Tate
"I have a bankruptcy on my credit file so my credit score is abysmal. Is there anything I can do ? I have come across credit repair companies who claim it is possible to remove a bankruptcy from my credit history. Is it true? Is there actually a way I can get good credit again?"
Questions like these are common. Bad credit affects millions of Americans and in an economy where even people with decent credit are having a hard time getting financing, those with bad credit ratings are finding themselves being left out of the credit game entirely. Naturally, they begin inquiring about what they can do other than biding their time for years waiting for the negative credit listings in their credit reports to age and eventually fall off.
The answers people get when asking these questions are typically disheartening. The majority of the time, they are simply told that they will have to wait. Wait 7 long years for most negative listings and a decade or more for a bankruptcy. And as if that wasn't enough, the people answering these questions also tend to throw in unnecessary jabs like, "that's what you get for being careless" or "you should have thought of that before you acted irresponsibly".
This is sad because what most people don't realize is that so many people with bad credit don't deserve it. They are merely a victim of circumstance and in many cases, a circumstance that is practically unavoidable.
The number one cause of bankruptcy in America is fallout from a medical emergency or illness
and while you can argue that a good insurance provider and preventative care will keep these situations from ruining a person financially, that is not always the case. Complications from unforeseen gaps in insurance coverage and billing errors can end up making you have to pay much more out of pocket than expected. When coupled with the loss of wages or sometimes loss of job that can go along with an illness or injury, these expenses can start even the most responsible people down the road to bankruptcy.
Fortunately, for many people, not all hope is lost. Regardless of what most people think, it is possible to dispute and permanently remove any type of item from a credit report, including a bankruptcy. The law gives consumers the right to dispute any item on their credit reports that is inaccurate or misleading. The law gives people who are being unfairly labeled as a a credit risk the opportunity to work to repair their credit score.
This process of working to remove questionable negative items from credit reports has become known as credit repair. Whether through their own credit repair efforts or with the help of a reputable credit repair service, hundreds of thousands of people have been able to legally and permanently delete negative items from their credit reports including late payments, charge offs, collections accounts and bankruptcies.
Questions like these are common. Bad credit affects millions of Americans and in an economy where even people with decent credit are having a hard time getting financing, those with bad credit ratings are finding themselves being left out of the credit game entirely. Naturally, they begin inquiring about what they can do other than biding their time for years waiting for the negative credit listings in their credit reports to age and eventually fall off.
The answers people get when asking these questions are typically disheartening. The majority of the time, they are simply told that they will have to wait. Wait 7 long years for most negative listings and a decade or more for a bankruptcy. And as if that wasn't enough, the people answering these questions also tend to throw in unnecessary jabs like, "that's what you get for being careless" or "you should have thought of that before you acted irresponsibly".
This is sad because what most people don't realize is that so many people with bad credit don't deserve it. They are merely a victim of circumstance and in many cases, a circumstance that is practically unavoidable.
The number one cause of bankruptcy in America is fallout from a medical emergency or illness
Fortunately, for many people, not all hope is lost. Regardless of what most people think, it is possible to dispute and permanently remove any type of item from a credit report, including a bankruptcy. The law gives consumers the right to dispute any item on their credit reports that is inaccurate or misleading. The law gives people who are being unfairly labeled as a a credit risk the opportunity to work to repair their credit score.
This process of working to remove questionable negative items from credit reports has become known as credit repair. Whether through their own credit repair efforts or with the help of a reputable credit repair service, hundreds of thousands of people have been able to legally and permanently delete negative items from their credit reports including late payments, charge offs, collections accounts and bankruptcies.