Credit Rebuilding Just Got Easier After Bankruptcy

If you were to believe what you hear and see in the media you would think that the credit rebuilding process is nearly impossible after filing bankruptcy. I don’t want to mislead you by any stretch of the imagination into thinking that it will be a walk in the park. I do however want to show you that you can do it yourself.

It would be impossible for me to explain everything there is to know about recouping from bankruptcy, in one article. However what I can do is give you a couple of tips that will allow you to rapidly get results.

Chances are that after your bankruptcy is fully discharged you will still have some old accounts listed on your credit report. If some of the old accounts are still listed on your report, no problem tell them to remove them and show them proof that they were included in your bankruptcy. If you have some accounts that were not listed in your bankruptcy, you should begin the credit dispute process.

You approach the credit rebuilding process in the same manner as anyone else would. You begin by requesting copies of your credit reports from all three credit bureaus. With credit reports in hand, I recommend that you highlight any and all errors found on them. It doesn’t matter how big or how small… highlight it!

Now you are ready to begin the credit dispute process that I mentioned earlier. To put it simply, the dispute process is nothing more than a series of letters. Make sure to include any proof that you may have to prove your claims.

After sending out your letters of dispute it’s time to play the hurry up and wait game. The good news is by law the credit bureaus have 30 to 45 days to investigate and respond to your claims. If they fail to do so they must remove the claims in questions.

We have a little time on our hands so it would be wise to utilize it. We can do this by establishing a new line of credit. You can do this by applying for one or two secure credit cards. Whatever you do – do not make the mistake that most people make and apply for some sort of department store credit cards. Long story short they are useless and do more damage to help repair your credit than they do good.

DO NOT jump on the first secure credit card offer that comes along. Check the interest rates, review the terms of conditions. There is usually some sort of annual fee. Make sure to do your homework before making any type of commitment.

There is a downside though… You will have to pay a deposit that is normally equal to the amount of the credit that you are requesting. The minimum limit in most cases is usually around $300. Lenders do this to protect themselves, if the borrower fails to make payments they forfeit their deposit.

The secure credit card method comes highly recommended because the lenders behind them report to the credit bureaus as if they were normal type credit cards. At the end of the day it’s a win – win scenario for everyone.

Whatever you do – don’t let bankruptcy keep you a prisoner. You can start the credit rebuilding process right now with my credit repair made easy system.