Here are some steps you can take to try to remove a bankruptcy from your credit report:
1. Review your credit reports and verify the accuracy of the bankruptcy information. Make sure the case number, court, filing and discharge dates are correct.
2. Send dispute letters to each of the three major credit bureaus (Equifax, Experian, TransUnion) requesting they investigate the bankruptcy listing if you find any inaccuracies. Provide copies of court documents if possible.
3. Specifically dispute the bankruptcy if:
– It is reporting past the 7-10 year mark since it was originally filed. Bankruptcies can only be reported for 10 years under the Fair Credit Reporting Act (FCRA).
– It is reporting multiple times on your report. Bankruptcies can only be reported once.
– Information like case numbers, dates, etc. are incorrect.
4. Add a 100-word statement to your credit report regarding the bankruptcy if it remains. Explain any mitigating circumstances like job loss, medical issues, etc. that led to the bankruptcy.
5. Continue paying all bills on time and keeping credit accounts open and active to slowly rebuild your credit history. The impact of the bankruptcy will lessen over time as you re-establish positive payment patterns.
6. As a last resort, consult a consumer rights attorney about the possibility of filing suit against the credit bureaus for violations of the FCRA if they refuse to remove an inaccurate, outdated, or multiple-reported bankruptcy after several disputes.
Be persistent and patient. With time and pristine payments, you can rebuild your credit even after a bankruptcy.