How to improve your credit score (Part 5 of 5)

Bankruptcies are generally the most difficult thing to work with on your credit report. But they are not impossible to clean up or get removed from your credit report.

If you have done everything in parts 1-4 you should have seen a jump in your credit score. Now you are preparing yourself to take on cleaning up a bankruptcy. First review the bankruptcy information that is being reported to the credit bureau. Make sure that everything is completely accurate. Because bankruptcies can be reported on your credit report for up to 10 years, depending on the type of bankruptcy that was filed. Generally, they report for seven years, but have the right to be there for up to 10 depending on circumstances. Talk with your attorney regarding this information.

But if you have a bankruptcy that has any information that is inaccurate, dispute it. Most of the information is generally inaccurate because it may have not been updated or had correct balance information. If the bankruptcy is very old (more than five years) you should review it even more closely due to information that never got updated over the course of time.

Many courts do not have the time to research bankruptcies and could fall off during the investigation, but you must make sure that these above everything else are reporting accurately. Any accounts that were included in the bankruptcy must show as closed or included in the bankruptcy. That will help an already damaged credit score because of the bankruptcy. If an account is not reporting as closed or included in the bankruptcy, then it is viewed as an account that was not involved in the bankruptcy and is hurting your score more.

So make sure that all of the accounts that were discharged in the bankruptcy are showing such. Then verify that the information they are reporting is completely accurate. Then review and check the information on the bankruptcy. Dispute any information that is inaccurate or misleading. Talk with your case advisor if you have any questions.

Bankruptcy damages the credit score badly, but with time the damage can be minimized. Think of starting fresh and don't get yourself into the financial trouble that caused you to file bankruptcy. Additionally, think about taking some money management courses to help you understand what mistakes you made and what you can do in the future.

Credit is about the future and cleaning up your past can help your future. Good Luck!

Ovation Credit Services offers personalized credit repair solutions for individuals seeking to rehabilitate their credit profiles. Founded by attorneys, Ovation has helped over twenty thousand people overcome bad credit.