Filing for bankruptcy can be an overwhelming and scary process—especially if it affects your credit report. However, filing for a bankruptcy doesn’t mean that you won’t be able to rebuild your financial report successfully. In fact, you can rebuild your credit report—here is how.
Good Financial Habits
Before you start thinking about rebuilding your credit report, you need to make sure your financial habits are on track. The last thing you want is to continue to have financial hardships—this is why practicing good budgeting skills can help you manage your money successfully. For example, you can start by budgeting and administrating your money by keeping track of your weekly expenses.
Speeding Up the Credit Removal Process
Developing good financial habits is the first step toward removing bankruptcy off your credit score. If you file for Chapter 13 bankruptcy, you can develop a plan to repay some or all debts over the course of three to five years. The bankruptcy itself will be deleted from your report seven years from its filing date. However, there is a maximum about of time a bankruptcy can remain on your report but there is no minimum amount of time—in other words, you could get a bankruptcy removed before the seven to ten years.
If you believe that the information in your bankruptcy file is even slightly inaccurate, you have the right to make changes. You can do this by filing a dispute with the three credit bureaus. This may require you to submit the required documentation to receive approval. In some cases, this may lead them to remove a bankruptcy from your credit report.
Contact A Bankruptcy Attorney: (817) 576-1889
Filing for bankruptcy can be a confusing process, especially when it affects other areas like your credit report. For such reasons, it is helpful to contact a bankruptcy attorney who can help you with the filing process and can answer all your questions. Huebner Law Firm has helped hundreds of families recover from their difficult financial situations. Contact us today!