Bankruptcy Attorney Shares Secret For Removing Bankruptcy!

It’s impossible to remove a bankruptcy from your credit reports…or so I had thought. Turns out, I was mistaken as I recently discovered.

“So how do you do it?” I said to the bankruptcy attorney.

A few weeks ago, I talked with a BK attorney out of New York. Turns out, this BK attorney also understands credit repair…indeed a rare combination.

Naturally, I was extremely curious as a bankruptcy scorches a person’s credit file for 7-10 years.

Shocker Alert: Many people begin rebuilding their credit immediately after filing by doing a little planning before filing. (see for yourself at “8 Secrets To A 680 Credit Score!“)

Still, the “included in bankruptcy” notation forces many people to get turned down for jobs or have to pay cash. One strategy this attorney shared with me created one of those “AHA” moments for me.

Before he went further, he winked while telling me he charges his wealthy clients up to $10,000 for this very information. I was hoping my simple “thank-you” was payment enough

He said you need to remove everything else from your credit reports BEFORE you go after the “BK” notation.

Apparently, if you have a bankruptcy and several accounts under it stating “included in bankruptcy,” the credit bureaus will presume your reports are accurate since you have accounts that are listed  in bankruptcy.

“Think about this,” the BK attorney explained to me.

1. Get copies of your credit reports (don’t waste your time on the “tri-merge” or 3-in-1″ credit reports. You need individual credit reports as at  www.myfico.com (NOTE: you won’t get your score from Experian though as Experian has chosen to shut consumers out from their score).
2. Review your credit reports carefully. NOTE: If you live at an address other than the address where you filed, get this address removed. Debts are often tied your addresses.
3. Dispute and remove every account showing as “included in bankruptcy”. This shouldn’t be hard since creditors have very little incentive to verify the information. Why would they? They can’t get paid on any of them. NOTE: Be patient: this process can take several months. Let’s look at how bankruptcy files are stored; it is the key to successfully removing it from your credit report.
4. After two years, your file is moved from the local court at which you filed to a central storage facility. If you go to your local court and request to see your file, they will have to order it and have it returned to the court. NOTE: More and more courts are digitizing files & storing them in non-paper ways. Have them order it. The time it takes to arrive is about a week, the attorney explains. Once it arrives they will put it in a special place and notify you that it has arrived.
5. Once you order your BK file, wait about 3 days and then send a dispute to the credit bureaus. They will then call the “storage facility” where your bankruptcy file should be – and discover it logged out. It will be either in transition back to your local court or already there and waiting for you to come view it.
6. Stall tactics are key. Once your file arrives back to the local court, they will start calling you to come view it. It is very important that you delay as long as possible. Remember, credit bureaus have 30 days to verify any disputed debts and it’s very important you keep your file in that “holding room” for as long as you can.

This attorney further explained you will need to “stall,” stating you’re extremely busy at work…but will be there as soon as you can. What you’re trying to accomplish is keeping that file on hold the entire 30 days while the credit bureaus try to verify its existence.

Of course, the bureaus use many 3rd party databases today for verifying disputes. That is, the “Furnisher” is not directly contacted. With bankruptcies (and other “public records”), the process is a bit different…so I discovered.

Bankruptcy attorneys who understand credit repair seem to be the exception. I’ve talked with many attorneys and I always try to discover their secrets. I’ve not run in to many attorneys who understand credit repair. With that said, I have no experience with this attorney’s strategy. It sounds logical, but what do I know: I’m not an attorney and I don’t pretend to be. What is your experience with bankruptcy? What was the worst part of bankruptcy for you? How quickly before you began climbing back?

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