Hello to all. Just wanted to introduce myself and say thanks for such an awesome collection of information. I've been wanting to improve my credit score, and it's great to have some information and wisdom on how to do it. Here's my situation: I filed a BK Ch7 in November, 2004, which was discharged in January of this year. My current scores are: EQ: 597 EXp: 615 Trans: 585 I guess I'm a little stumped as to what to do next. I'm looking at my credit reports and not quite sure how the BK affects my plan. Do I go ahead and try and get the negative items on my reports validated? Haven't they already been includedin the BK? Haven't I, by filing the BK, basically said "these loans are good but I can't pay them?" There are a couple of items on my reports that are charge-offs. Am I correct in understanding that a charge off is not the same as included in the BK? Should I dispute to have them included? How effective is it to contact the CRA directly (e.g., online or by phone) to dispute items as opposed to sending letters? Any advice offered as to a general plan of action for post-BK recovery would be greatly appreciated. Also, just wondering if there really is any point at going at it now, so soon after the BK? I'm looking at some posts on here that talk about two and three years after. Lost lost lost! I'll take all the help i can get! Thanks! Brian
The most important note, from what I've read, is to NOT send the CRA any correspondence admitting to the bankruptcy. Don't send them something saying "the debt in question was included in BK". And definitely don't send them BK paperwork. It's not your job to provide them with derogatory info which is going to be used against you. The basic tactic I've seen regarding BK is that it's on the credit report based upon your name and address, as opposed to SSN. So, if you have moved since the BK, one of the first things you may want to do is to contact all three of the CRAs and dispute the old address as listed in your personal info. If you still live at the same address, I'm not certain what the school of thought is on that. Possibly obtain a PO Box and then contact all creditors to update to that address, possibly? I'm sure someone with more knowledge can chime in. But again, don't send them anything which admits that the BK existed; it can haunt you later. This is a common mistake made by newbies. Check the area of this board which includes "hall of fame" postings, and this includes a thread regarding the top mistakes people make with regard to credit repair.
Yah thanks I had seen that and figured that was the worst thing to do. They already know I've got a BK so why poke that bear, right? So... what do I do with the outstanding items that are NOT included in the BK. Go for validation? Thanks!
Not entirely sure what's the best way. Each situation will be different, and most of the people on this board have been here for longer than I have and probably have more experience. Here's a good starting-out resource: http://www.awesomecredit.com/oldsite/faq.htm#Started
