FICO 700's all 3 CRA's BK on report

I do not understand why alot of people on this board go through hundreds of hours of stress and spend alot of money to HOPEFULLY fix their credit reports to obtain a very tough goal.

Yes it is o.k to dispute an item as not yours if the tradeline is not yours or if it is incorrect. I see people here that file bankruptcy and try to fight off every negative account and then the bankruptcy. Overall it is not a realistic goal for many because they have to fight off every single account and keep it from being reinserted. And also dispute all of the public information such as bankruptcy, judgments, and other public information which is probably true.

Anyone going through this must spend alot of money and time to the CRA's and it is not wise. Actually anyone that is doing any kind of credit repair after a bankruptcy should do this in my opinion.

After a bankruptcy your FICO scores on all 3 reports may fall into the 400-500 area. After your bankruptcy is discharged you need to do 2 things. Establish new credit and fix your credit reports.

Establishing new credit after you receive your discharge papers is an absolute must. Get 2 or 3 secured credit cards like Orchard secured, American Pacific Bank, or whatever. You need to establish new credit after a bankruptcy to get your score and credit back on track.

Go through all 3 of your credit reports to find out who is still reporting you as being late or if they are still reporting a balance after a bankruptcy. The creditors that are reporting that you are late or owe a balance at this point should be dealt with first with disputes. Take care of these right away. The past due information is false and the debt is included in bankruptcy. Dispute these debts as included in bankruptcy and send in your bankruptcy discharge papers with the list of creditors.

During these 2 stages of rebuilding credit and disputing items that are false after you get your discharge papers, your FICO credit scores will rise quickly. At the point of around 2 months after a discharge your FICO score will be around 600 with the new established credit and the updates to the past lates and the balances you do not owe. Remember to get the items that report a past due amount to be included in bankruptcy to wipe the old information out to help you now.

Some items that are disputed as included in bankruptcy will be deleted because they will not respond within 30 days. Sometimes this will work as well as saying not mine. Also the other items that you can get included in a bankruptcy will take away the past due and balance which kill a FICO score. Included in bankruptcy will help as far as age of accounts while trying to establish new credit which you need to do right away, at least 5 accounts within a year of the bankruptcy discharge.

Yes 5 different banks will take a chance on you after a bankruptcy. Such as Household, American Pacific Bank, Cap 1, Providian, Merrick and so on. Also there are other banks such as 1st Prem, Cross country, or First Nat bank of Marin or other ones but they are not worth the dummy charges or rip off.

After about 1 to 1.5 years of your discharge of bankruptcy you can have a FICO score in the low 700 area. I have a 700+ FICO score after a bankruptcy of 18 months on all 3 reports. The CRA's do not doubt my disputes because they are legit. Personally I had 85 derogs on all 3 and am down to around 30 on all 3. These were done with disputing as not mine or included in BK which they delete sometimes anyway.

At this point you can not get a prime credit card with under 10% APR, But you can have at least 3 with under 15% percent. At this point I would hope you would not need to carry a balance on credit cards because that is what got you in trouble in the first place. Zero annual fees are easy at this point anyways.

At the 2 year point after a discharge from bankruptcy you can qualify for a mortgage at a decent rate, as long as your FICO scores are around the low 700's which should be easy after fixing your credit reports the legit and easy way buy estabishing alot of new credit to this point. Lets see what happens to an individual that deletes everything off of their report compared to someone fixing ALL of their prior mistakes.

If you delete everything off your credit report that included negative information you are wiping out all of your past history which FICO scores factor in heavily. Yes maybe you can get a credit card under 10% APR but that is saying you need to carry debt, which got you into trouble in the first place. APR on $3000 debt carried over a year with a prime credit card will be about $240 over a year with a 8% APR. $3000 of debt carried on a 15% APR would be around $450 for the year. Around $200 for an entire year on intrest. And what would you spend on hundreds of hours of credit repair and stress? Alot more if you ask me.

Do you really need to spend hundreds of hours on credit repair and the stress, besides the money spent on CRA reports and faxes, and letters to achieve the very point of someday receiving a prime credit card to carry a debt again? Why would you not spend the time to put the effort into work or getting the past behind you and moving on? Also do you really want to spend the money to make the CRA's richer and support this whole game?

I understand that this is a hobby for some people and respect that. I also respect very much others helping people going through situations right now that are not right, and they should. I do not work for a CRA and never have or will. All I am doing here on this thread is to make others understand that the main goal of getting everything deleted that is negative information overall will do 2 things.

Erase all information that helps a credit history which hurts and helps. And also the main reason for doing this would be to obtain prime credit cards again for what? To carry debt again? Anyone can obtain a FICO score on all 3 CRA's of 700+ within 2 years of credit repair either way. But also you have to factor in real life situations that contribute to this such as income, mental and physical health, and etc.

I think in my own opinion that others come here and try to learn way to much to early about nutcase, ITS, validation, without dealing with the real issue of why they came here in the first place.This is just a point of view and I do not respond to any bashing or personal attacks. This can be done either way with any amount of work towards making money or credit repair. GOOD LUCK the choice is yours always.