Filing bankruptcy may not be the wisest move when it comes to repairing your credit score. Even though debt will be discharged, Chapter 13 proceedings or otherwise won't erase any blemish you have on your report- in fact, just quite the opposite! A Bankruptcy is procedurally entered into Public Records and stays there for seven years with potential damage of up to 200 points off one's overall score (unless removed).
Facing a lawsuit can be overwhelming, and in these cases, bankruptcy may be an appropriate solution. But if that's not the case for you, there could still exist simpler options to help restore your credit history.
To get your credit score back on track, consider enlisting the help of an expert like Credit Repair Ease who can assist you in identifying and disputing any inaccuracies that appear on your report. Alternatively, request a "pay-for-delete" from creditors to have negative items removed – though success is not always guaranteed!
No, it is not possible to wipe your credit clean for free. Repairing or improving your credit is a legitimate process, but it requires time, effort, and sometimes financial investment. There are no quick fixes or magic solutions to erase accurate and verifiable information from your credit report.
Here are some important points to consider:
1. Accurate Information Stays:
Legitimate negative information, such as late payments, bankruptcies, or accounts in collections, will remain on your credit report for a certain period (usually seven to ten years). It is not possible to remove accurate information before its designated time frame.
2. Credit Repair Services:
Some companies offer credit repair services, claiming to remove negative items from your credit report. Be cautious, as not all of these services are reputable. Additionally, many charge fees for their services. It's essential to research and choose a reputable and trustworthy credit repair agency if you decide to go this route.
3. DIY Credit Repair:
You can take steps to improve your credit on your own without paying for credit repair services. This involves reviewing your credit reports regularly, disputing inaccuracies, making timely payments, and managing your credit responsibly. The credit bureaus provide a process for disputing inaccuracies, and you can do this for free.
4. Credit Counseling:
If you are struggling with managing your debt, credit counseling agencies can guide budgeting and debt management. They may negotiate with creditors on your behalf, but they cannot erase accurate negative information from your credit report.
5. Beware of Scams:
Be wary of any company or individual that promises to wipe your credit clean for a fee or claims to have secret methods for instant credit repair. These are often scams that can lead to further financial harm.
6. Patience is Key:
Rebuilding credit takes time and patience. Consistently practicing good financial habits, such as making on-time payments, reducing debt, and managing credit responsibly, will contribute to positive changes over time.
Need some help getting your credit score back on track? Let a Credit Repair professional take the wheel. With their expertise in evaluating and analyzing reports, you'll be stress-free as they smooth out any bumps along the way to get you closer to your financial goals!
Want to boost your credit score? Look no further than Credit Repair Ease - they provide top-of-the-line solutions and renowned customer service! Give them a call at (888) 803-7889, or set up an appointment today. You won't be disappointed!
Credit Repair Ease provides a unique service for everyday Americans, helping them unlock their financial potential by removing negative items from credit reports. With an unrivaled commitment and dedication to each customer, they offer the knowledge needed to reach personal financial goals in life.