Do you KNOW what is on your credit report? Even if you have got just filed bankruptcy it is EXTREMELY of import that you KNOW how it is reported on your credit report. It is NOT the credit reporting agencies duty to do certain that your credit report is accurate. It is YOURS, and only you can do certain that it is.

After receiving your bankruptcy discharge document the first thing you will desire to do is get a transcript of your credit report and make certain that the information reported on it is correct. Did you cognize that over 90% of the clip it is incorrect?

You wll desire to do certain that your report is showing the day of the month the bankruptcy was filed and when it was discharged. Brand certain that ALL creditors that you included in the bankruptcy are showing that they were and that your balance is $0 and nil else. Net Income & Loss or Charge Offs will lower your credit score. Brand certain they report as "included in bankruptcy" with a $0.00 balance.

If a creditor shows any balance other than $0.00 and it was included in the bankruptcy it will lower your credit score. It will by your duty to reach the creditor and have got them update your credit report to demo the right information. Be prepared, you may need to reach them respective modern times before they get it right. But don't halt until it is.

Did you also cognize your credit score will travel up after a bankruptcy? Why? Because all past times due, net income & loss and charge offs will now demo a balance of $0 instead of a balance past due.

Did you cognize that if your credit score is over 500 you can purchase a home and get 100% financing? That's right!! However, you need to recognize that you will be paying a insurance premium terms in the shutting costs and interest rate. If you make some credit repair and wait until the bankruptcy is two old age old you can measure up for a Fannie Mae low interest rate loan.

Remember, you are responsible for your ain credit report. No 1 else is going to care about it as much as you. Start workings on it now, it's never to late.