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I filed bankrupt about 2 years ago. I’ve considered contacting the creditors that were involved to see if they’d work something out with me as far as my paying these debts off. I’m wondering if I pay them off would they put something on my credit report that states that I’ve paid as agreed or something that wouldn’t make the bankrupt look so bad. At the time I was ill and I tried to work with a company to work on the debt however the company was being paid a lot and was offering me no service at all. I’ve since then gotten my money back but the end result was my filing bankrupt. My car was included in the bankrupt in error and I’ve been paying on that faithful because I explained that my car was never suppose to be added to the bankrupt. I faxed some original documentation that stated that the typed documents were incorrect therefore the company was willing to work with me. Do anyone know if there is anything that I can do to clean up my credit history as far as the bankruptcy?

8 Thoughts on Is there a way to clear bankruptcy on your credit report?
  1. Reply
    Eugene N
    July 31, 2011 at 7:52 am

    Bankruptcy is a legal ruling. Your old creditors have already written off the loss. No matter whta you do, it’s on your credit report for a minimum of 8 years I beleieve.

  2. Reply
    Sara S
    July 31, 2011 at 8:04 am

    It will clear after 7 years

  3. Reply
    Matt G
    July 31, 2011 at 8:15 am

    Time alone will clear the bankruptcy off your credit record. All companies for the next 8 years will see that you filed. Don’t you think the companies you are asking credit from deserve to know?

  4. Reply
    chuck l
    July 31, 2011 at 8:23 am

    1. go to http://www.annualcreditreport.com and get ALL 3 credit bureaus. – follow their directions on diputes
    2. send a copy of your list of creditors (to ALL 3 bureaus) from your bankruptcy to make sure all of the accounts are updated as included in bankruptcy and that will show a zero balance and put all of your tradelines at the bottom of your bureau.
    3. send the reaffirmation papers of your car to all the bureaus that show the loan, this will put your pay history back on the bureau.
    4. you cannot make your bankruptcy go away for 10 yrs, but after two years you should be able to get conventional interest rates.
    5. AFTER you have updated your credit files – Utilize your local credit union and pay all your bills on time. Derog credit after a BK will hurt your score badly especially if it is a credit card

  5. Reply
    dougzinboston
    July 31, 2011 at 8:47 am

    Bankruptcy is a court ruling. If there was any chance you’d be able to lift the bankruptcy, you’d have to contact your bankruptcy lawyer. A court is the only place you could go to to alter a former court’s ruling. If you got your money back via court proceedings, ask the lawyer that represented you on why the bankruptcy wasn’t lifted. A lawyer and a judge are the only two that can halp you at the moment, no letter to the bureaus will be able to do anything. If you can’t get it lifted, you’ll have to wait another 5 years for it to fall off.

  6. Reply
    Starry Eyes
    July 31, 2011 at 9:41 am

    you gotta wait the 7 years just like every one else with bad credit

  7. Reply
    t D
    July 31, 2011 at 9:43 am

    With years in the credit business:

    I wish people wouldn’t post info unless they really knew what they were talking about!

    A chapter 7 will stay on your credit for 10 years, a chapter 13 for 7 years.

    If you went through a chapter 7, there is no point in paying anything, as your debts simply no longer legally exist.

    When working with customers who have had a BK, here are the things I tell them to improve their credit:

    1. Has any of the debt that was included in the bankruptcy appeared on the credit report as LATE past the date of filing. It is so, so common for your creditors not to get notice of your BK and continue to report your debt as late. As they can not do this as of the date of filing, the very first thing I have my customers do is to mail a copy of their entire BK petition and discharge form to each credit bureau with a dispute letter. The dispute letter should include the names and account numbers of the accounts which are showing late payments past the date that you filed your BK in BK court (NOT the date you received the discharge).

    2. Don’t pay a dime to your creditors, it will make no difference in the way they code your bankruptcy and will not benefit your credit report in any way. (In fact, it could make things worse by making a bad, old debt look like a bad, current debt).

    3. Review your credit report for other errors and dispute anything that is negative. The bureaus must verify your debt or delete it – the burden is on them for accuracy. It is not your responsibility to demonstrate the debt is wrong, but any info you can provide to prove it is wrong will be a help.

    4. 2 years out of BK is not going to get you a whole lot in the way of credit, so be patient until more time passes.

    5. Pay your bills on time each month and get a secured credit card if you want to work on reestablishing your credit. You’ve got the BK, but post-BK should be crystal clear.

    Get a copy of your credit report for free at http://www.annualcreditreport.com

    I think the other site pays someone to post their info, but do not go to freecreditreport.com because you need to pay for the service to get the free report. It’s a shameful scam.

    Best of luck!

  8. Reply
    gtofinancial.tomvoli
    July 31, 2011 at 10:07 am

    The credit report is a history of what happened. If it is accurate it will be difficult to remove but the laws provide you the right to a review of the report and an investigation on it’s accuracy.

    Here is some additional info. Hope this helps.

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