By Tony Banks
Generally, bankruptcies have a life span of 10 years on credit files. After it has exceeded this time frame, it ought to be deleted from one's file, but since the reporting bureaus and the creditor that furnished the account with them do not get any benefit for deleting it, naturally it becomes your own responsibility to ensure that it is removed.
Since the duration for which one's file remains clean and free of negatives accounts for a good 15 percent of one's scores, it becomes imperative to take measures to delete negatives in order to gather some good increase in points.
Take time out to compose letters that you will be sending to reporting agencies to get bankruptcies deleted from your file. Your priority when sending dispute letters to the bureaus should be a certified mail so you can easily track it.
If you have got several other negative accounts you need to get rid of, you will be writing separate letters for them as agencies label letters containing more than one subject of dispute frivolous and they have the right to do so.
But since the backing of the Fair Credit Reporting Act gives you the prerogative to order any bureau to launch an investigation into an information whose origin you do not know, then you must exploit this opportunity in getting negative accounts deleted from your file.
Credit bureaus typically have 30 days to conduct their investigation and if they fail to make any form of verification on a bankruptcy placed on your file, then they are required by law to delete it.
In a situation where you do not think you will be able to undergo the repair tasks needed to restore a good rating, trying the services of a repair firm will be a good consideration since that's what they do for a living.
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