How to Effectively Get a Bankruptcy Removed Off Of Your Credit Report Early | 5 Strategies
About Bankruptcy
Bankruptcy is a public record that is reported about you from a judicial court.
Bankruptcy is one of the last legal recourses for consumers that are facing extreme financial difficulty.
If executed correctly, a bankruptcy can help to abolish old debts and give consumers a hopeful new beginning.
But filing for bankruptcy can have its drawbacks and it can hurt your credit score.
The good news is that it does not have to have long term effects. And you can realistically recover from a bankruptcy relatively quickly if you play your cards right.
But for now, let’s talk about real strategies and options on how to remove a bankruptcy from your credit report early.
Disclosure: We only recommend products and strategies that we have tested or have used ourselves. For some of our recommendations, we may earn a commission.
Strategy 1 | How to remove a bankruptcy on your own
Simply dispute that the item is not being reported correctly
You simply need to prove that that bankruptcy is not being reported correctly or that it is not yours.
Many times, items are not reported correctly on a consumer’s credit report.
You may have a similar name to someone else or it just may simply have been added in error.
If there is a bankruptcy that is showing up on your credit report and it is not yours, you can dispute it with the credit agency (or agencies) where the bankruptcy is showing.
Also, look for any other inaccurate information about the bankruptcy including the date it was filed, the courthouse it was filed, your full name and address, etc.
Dispute anything whatsoever that is inaccurate.
Your success rate here is high because you can prove that the bankruptcy is not being reported correctly.
Strategy 2 | How to remove your publicly known record of a bankruptcy
A Bankruptcy is a public record about you that everyone can see
We mentioned earlier that bankruptcy is a public record that is available to the public.
Yes, that’s right, anyone can look you up to see if you have any civil judgments, liens, foreclosures, and of course bankruptcy.
The 3 major credit agencies go out and buy these public records from other third-party reporting companies.
These companies are referred to as furnishers.
Here is the definition of a furnisher from Investopedia.
A furnisher is a company that provides information about a consumer, including credit history, to a credit bureau.
For example: A furnisher can be a bank, other credit bureaus, a debt collection company, a credit card company, or data collecting organizations.
Why is this important?
It is important to realize that furnishers must abide by the Fair Credit Reporting Act regulations that ultimately protect consumers.
They must be able to back up the bankruptcy information about you with full records. If they cannot, as a result, the bankruptcy must be removed.
They must disclose the methodologies and sources that they used to obtain your information about you and the information MUST be 100% accurate or again, the bankruptcy or public record must be removed.
It is your right by the law to dispute the information provided by the furnisher.
To sum it up, if you can find any iota of false reporting, you will have a strong chance of success removing the bankruptcy early.
Here’s what to do step by step
Step 1
Write a dispute letter and send it to the credit bureaus or the furnisher or both. Ask them to provide proof, methodologies, and sources of their findings.
Step 2 (This is the secret sauce)
If they cannot verify the dispute or if they do not respond within the statute of limitations (usually 30 to 45 days) the bankruptcy (by law) must be removed from your credit report. Mission accomplished. :)
If the dispute comes back as verified by the credit bureaus or furnisher, simply take the response letter they sent you and mail it in a self-addressed envelope (with a stamp on it) to the county clerk of the courthouse where the bankruptcy was filed and tell them that your furnisher (which with whom you disputed) said that your bankruptcy was verifiable and ask the court clerk to please reveal exactly what information the furnisher requested, the procedure the courthouse took to verify it and the proof that was sent to the furnisher.
There are many ways that you can go about writing this response letter. Make it personal and use a sense of urgency.
Step 3
What may happen next is that the court will respond with a letter to you stating that they do not report to the credit bureaus.
If they do, send that letter back to the furnisher and give them all of your information about your previous dispute and tell them that the court did not verify or even report to the furnisher therefore you now have proof that the furnisher never tried to verify the info in the first place.
This means you most likely caught them making a mistake or in a lie, and if so, either way, you can sue them.
Demand that according to the Fair Credit Reporting Act, the public record about you must be removed.
You can do this whole process yourself or you can hire a professional trusted company like Sky Blue Credit to do it on your behalf.
Overall, I would attest that Sky Blue Credit is a fantastic credit repair firm! I highly recommend them to anyone because of their professional, honest, non-salesy team.”
Charles Daidone
Credit Repair Expert
Founder of CreditRepairReviews.co
Hire Sky Blue to help you to remove your bankruptcy and any other derogatory information about you
Sky Blue Credit will work on your behalf for just $79 a month to not only try to remove your bankruptcy but also to remove any other misleading or erroneous information. They also offer a 90-day money-back guarantee. You have nothing to lose but your public records and negative baddies that are being reported about you.
Strategy 3 | Use the Smart Money Secrets System
This is primarily the system (product) that the late Larry King (RIP) promoted on his show.
The Smart Money Secret was derived from a book by Scott And Allison Hilton.
They exposed a loophole and a system to get negative items removed forever from your credit reports legally.
Their loopholes have to do with some of the legal languages contained within the Fair Debt Collections Practices Act and the Fair Credit Reporting Act.
You can see the presentation video and the full system by watching this video.
You can figure out how to do all of this on your own, but the advantage to the product is that they give it all to you on a silver platter with easily executable step by step processes.
You get a lot of other perks like pre-written proven-to-work dispute letters, Scott and Alison Hilton’s book, access to their private Facebook group, and more.
Read our full review of the Smart Money Secret.
Strategy 4 | Use The Credit Repair Laws and Legal Credit Loopholes
There are 5 credit repair laws that were designed to protect you as a consumer.
These are real actual legal loopholes that you can use in your favor.
They are the Fair Credit Reporting Act, The Truth in Lending Act (Consumer Credit Protection Act), The Fair Debt Collection Practices Act, The Fair Credit Billing Act, and The Equal Credit Opportunity Act.
Simply go through these laws one by one and you will be sure to find a loophole that will result in success in getting an erroneous bankruptcy removed.
Strategy 5 | Use a Credit Repair service
How to Get Bankruptcy Off Credit Report Early?
Why not try using a credit repair service to do everything for you.
This is an easy hands-off approach that you can take where you do not have to get involved with all of the legalities and formalities of the process and you do not have to tie up your time.
Let a professional firm have a go at it for you.
It’s affordable at $79 per month and you do get a 90-day no-questions-asked money-back guarantee.
Sky Blue Credit has over 30 years of experience and they know the laws.
See our picks of the top 6 credit repair companies.
Related Resources
See how to deal with bankruptcy and how long it takes to recover from it.
Using the Smart Money Secret system to clean up your credit report fast.
Use these credit repair loopholes to fix your credit fast.
13 tips and tricks on how to raise your credit score fast. See tip #6 as it is extremely powerful!
Visit our blog for more resources.
