Negative marks and errors on credit reports can make it more difficult for borrowers to receive mortgages, credit cards, or to secure certain types of jobs. Fortunately, there are methods for correcting erroneous and derogatory marks on your credit report. Our guide will explain the basic steps required to challenge errors. Step 1 – Request a free credit report: Under the Fair Credit Reporting Act, Americans are granted one free consumer report from the three credit agencies (Equifax, TransUnion and Experian) each year. Pulling your annual credit report should be the first step in spotting errors. Step 2 – Analyze your credit report for errors: Once you have received your credit reports from the three agencies, it is time to start searching for errors. For example, late payments or collection accounts that you do not recognize. Be sure to go through all three credit reports very carefully. Some negative marks…
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Many people who are filing for bankruptcy are scared it will be impossible to rebuild good credit. Fortunately, this fear is unfounded and opportunities to rebuild credit can be found soon after filing for bankruptcy. There is no such thing as a “permanent” credit rating. Here are some ways to strengthen your credit score after filing bankruptcy: Secured credit cards can be a good option for rebuilding credit after bankruptcy. These credit cards require a deposit, usually anywhere from 25 to 100 percent of the limit. For example, a secured credit card with a $400 limit might require a 50 percent deposit of $200. By making timely payments for a year or more, your credit score will likely start to climb. Pull your credit reports often to catch mistakes. Catching errors can become an essential step in repairing credit worthiness. Avoid applying for too much credit. After filing for bankruptcy,…
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*Credit card payments will not be accepted for bankruptcy cases, unless pre-approved by The Sader Law Firm. If you have a question about a credit card payment, please call our Office Manager at (816) 561 1818.
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