Bankruptcy Lawyer in Sacramento serving Rescue, explains how just 100 words can affect your credit report; the same credit report that is crucial to rebuilding your financial life after you have completed either a Chapter 7 or Chapter 13 bankruptcy. After a client has either discharged a Chapter 7 bankruptcy, or completed a Chapter 13 repayment plan, a common question is "how can I rebuild my financial picture by repairing my credit report?" Your credit report cannot be changed if what's recorded there is true. But inaccuracies and incomplete information can be corrected to reflect your current situation. And, besides correcting errors on your credit report, you are also allowed to include an explanation of why certain negative items appear on your report. You have a chance to explain your side of the story, as long as it's 100 words or less. One hundred words is not much room to maneuver – you're going to have to use these three tips to gain the greatest advantage: 1. Know your audience: Who will be reading your explanatory notes? A potential employer, landlord, or lender? Imagine you are meeting them on the elevator and had just 60 seconds to explain your bankruptcy. How would you summarize your decision to use your time and resources to move forward without the burden of unmanageable debt? 2. Leave out the emotions: Obviously don't need to go into gruesome details or start blaming people, system, or the state of economy. Name calling and placing blame have no productive place in your 100 word statement. Besides, you don't need to characterize yourself as a victim if your decision to seek help with debt relief has, in fact, made you the victor. 3. Stick to the facts. Just state the date you were laid off and the facts about falling behind on your mortgage payment. If your credit history was fairly good until you lost your job, then be sure to get your lay-off date in your statement. That way you can show that your credit was exemplary until your job loss made it impossible to make on-time debt payments after that specific date. 4. Just do these necessary steps. Get all your credit reports and correct or dispute any errors that you find on them. And get your 100 word statement of explanation into the reports. That way, when potential employers, lenders, or landlords pull your credit history, they will receive the corrected and updated reports you'll appear in the best light possible To summarize: You are facing your debt problems by planning a bankruptcy strategy with your attorney, and now you want to take control of the other parts of your life that might have been badly affected by your debt situation. Pro-actively correcting your credit reports, including a 100 word statement that gets to the point about your side of the story, will take you a long way down the road to that financial fresh start you have been looking for. An experienced bankruptcy attorney can help you determine your action plan in light of your income, assets, and the nature of your debts. This analysis will enable you to complete a Chapter 7 or Chapter 13 bankruptcy, the first step in achieving the debt relief you need to pursue your financial goals. Please contact our Sacramento office at 916-313-9069 or via email at firstname.lastname@example.org
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