Good Morning, I spent a lot of time in the distant past learning about Credit Repair, the methods, best practices, and implementation from this board. The problem is that this was quite a few years ago Since that time I had file a BK due to those past issues. I've learned how to properly manage my money and have started contesting "inaccurate" information. To date this has not been effective. These days I get letters from the OCs stating they've received my requests from the bureaus (when the heck did they start doing that?) in days not weeks... ALL of my contests were summarily rejected as they deemed the contested items as accurate... I'm happy to re-learn but I am already biased towards the old ways Can anyone point-out whats changed and the new best approaches?
A lot of the credit reporting agencies and creditors are communicating electronically now, so that is the reason for the quicker turn around time. Bankruptcy information is really hard to knock off, the accounts included as well as the public listing. Most people eventually have to given in to just forwarding the actual bankruptcy dismissal and the schedule list of creditors included to the credit reporting agency to at the very least get all items showing "included in bankruptcy / zero balance". Also even if you did accomplish removing the bankruptcy information, some creditors go around that and check direct with the court houses to verify a bankruptcy did in fact exist. Some creditors also black list consumers from obtaining credit with them indefinitively if they know you had filed bankruptcy no mater how long ago it took place.
Excellent information NightStar! What you have stated here is one of the best reasons why one should never file a formal bankruptcy. Informal bankruptcy is far better because it leaves absolutely no trace of it ever happening on any public record nor any adverse listings from debt collectors on credit reports. Of course, there is no viable way to eliminate adverse listings from original creditors although that can sometimes be done through credit bureau disputes if inaccurate information is being reported. Of course both the credit bureau and the original creditor can be sued if they are reporting inaccurate information and refuse to remove it.
