How to Erase Bankruptcy From a Credit Report

These days, credit repair companies are everywhere. They promise to fix your credit by erasing repos, foreclosures, late pays and even bankruptcies. But this process isn't difficult and you can do for yourself what they want to charge you hundreds of dollars to do.

Difficulty: Easy

Instructions

1. Contact all three of the major credit bureaus: Experian, Equifax and Trans-Union; you can access them by telephone, by mail or online. Order a credit report separately or all in one report by going through various websites.

2. Study what is on your credit reports; go over them with a fine-tooth comb. You are checking for accuracy because it's a well known fact that credit bureaus and the creditors that report information to them can and do make mistakes. However, if you actually filed for bankruptcy, it will stay on your credit report for 10 years, at which time it automatically drops off.

3. Find any incorrect information that is on your reports and then challenge that information. The Fair Credit Reporting Act states that you have the right to have any incorrect information removed from your report by requesting it in writing using a "Request for Correction" form.

4. Complete the "Request for Correction" form asking the bureaus to remove any errors from your credit report. They are required by law to verify and remove only incorrect information. Despite what the credit repair companies tell you, a legitimate bankruptcy can't be erased from your credit report. These letters will then be put in your credit file and be a part of any future inquiries. It is now your responsibility to keep your credit report updated with all the accurate information so you won't need credit repair in the future.