Can a Bankruptcy Really Be Deleted From my Credit Reports?

By: TheTopTens

"There is a bankruptcy on my credit file so my credit rating is awful. What can I do ? There are credit repair companies who claim it is possible to remove a bankruptcy from a credit report. Is there actually some way I can get good credit again?"

more people everyday are asking questions like these. Poor credit affects millions of people in this country and in an economy where even people with average credit are having a rough time getting loans, those with poor credit scores are finding themselves being left out of the credit game entirely. Naturally, they begin inquiring about what they can do other than biding their time for years waiting for the negative items in their credit files to age and eventually disappear.

The answers people get in response to these questions are typically discouraging. The majority of the time, they are simply told that they will have to wait. Wait 7 long years for most negative listings and a decade or more for a bankruptcy. And to make matters worse, the people answering these questions also tend to throw in unnecessary jabs like, "that's what you get for being careless" or "you should have thought of that before you acted irresponsibly".

This is sad because what most people don't realize is that so many people with poor credit don't deserve it. They are simply a victim of circumstance and in many cases, a circumstance that is practically unavoidable.

The number one cause of bankruptcy in America is fallout from a medical emergency or illness and while on on hand you can argue that insurance and preventative care will keep these situations from ruining a person financially, that is not always the case. Complications from unforeseen gaps in insurance coverage and billing errors can end up making you have to pay much more out of pocket than expected. When coupled with the loss of wages or sometimes loss of job that can go along with an illness or injury, these expenses can start even the most responsible people down the road to bankruptcy.

Fortunately, for many people, not all hope is lost. Regardless of what most people believe, it is possible to dispute and permanently remove any type of item from a credit report, including a bankruptcy. The law gives consumers the right to dispute any item on their credit file that they feel is inaccurate or misleading. The law gives people who are being unfairly labeled as a a credit risk the opportunity to work to correct their credit score.

This process of working to remove questionable negative items from credit reports has become known as credit repair. Whether through their own credit repair efforts or with the help of a reputable credit repair service, hundreds of thousands of people have been able to legally and permanently delete negative items from their credit reports including late payments, collections accounts, foreclosures and bankruptcies.

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You can work to fix your credit reports on your own, but increasingly, people are turning to expert credit repair companies for help with their credit. To assist these people, TheTopTens provides a list of the top 10 best credit repair companies.

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