Removing bankruptcy from your credit report is very important for your credit score. Until bankruptcy mark is not removed the score lives much to be desired, as the mark of bankruptcy significantly spoils the rating.

It is stated that this mark is to stay 10 years on your credit history, however, it is not ultimate regulation, there are exceptions and we suggest you to remove the mark.

Three main steps on how to remove bankruptcy from credit report:

Step #1

You should dispute the correctness of the mark with reporting agencies directly. To correct the mistake you should write a letter to the agency that committed the mistake and wait for them to investigate. You can also resort to the help of services that would do it on your behalf. Investigation results, by the way, are not 100% exact for the simple reason that bankruptcies are recorded in public records and the bureau won't check them. As the mark cannot be verified there is no legal basis for it to stay on your record.

According to the Fair Credit Reporting Act all items mentioned in the credit reports are to be removed by agencies in case they cannot be verified in a proper way.  So any item in your credit report should be precise and verified. If you doubt the correctness of this or that item you have a right to dispute it.

Step#2

Dispute each negative item in order to make your credit score look better. From this point of view removing bankruptcy from your credit report is the right thing to do, as there are no fields in your reports allocated for bankruptcies specifically.

Step#3

Positive credit through deliberate credit card managing.

When it comes to calculating credit score, two most important factors are timely payment and credit to debt ratio.

It is as clear as a day that paying back on time you create positive record and history of your payments looks better when it abounds in timely payments. This factor shows that you are well-informed regarding consequences of late payments and understands that paying back on time is priority.

The second factor is your credit to debt ration. It is calculated according to the amount of your credit and the current sum of your balance. Lenders think that individuals with lower credit to loan ratio are more sensible and moderate in respect of the funds, and as a consequence they rely on them to greater extent.

Finally, it is necessary to say it once again - your credit score can be very high. The task consists in removing bankruptcy from credit report and building positive record. Doubtful marks in the report can be disputed and removed. That is why you shouldn't lose time. It is time to act. Start building desirable credit score right now.

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