Credit Repair After Bankruptcy

The credit laws do allow you to request a reinvestigation of information in your file that you dispute as inaccurate or incomplete. You may choose to do this yourself or employ the help of a legal credit repair company. If you are heavily in debt, you may also want to consider a debt elimination or consolidation plan with the help of a professional.

If you can't solve your credit issues by yourself or you want additional help, you can contact a credit counseling service. There are non-profit companies in every state that help people in debt.

Counselors try to negotiate payment plans that are acceptable to you and your creditors. They also can help you work at a new household budget. Credit Repair After Bankruptcy - there is help out there.

Maintaining large credit balances can be very expensive. For example, if you have a current balance of $20,000, with 19.5% interest and a small monthly payment, it would take over 10 years to pay it off and would cost you an additional $20,000+ just for the interest, which almost doubles the total cost of whatever you bought. But if you consolidate your credit card balances, you can cut this down significantly AND pay off the loan in a much shorter time. It might take some discipline, but life does get better with the help of a non-profit credit counselor's help.

Debt collectors can call you at home and even at work (so long as you have not told them to stop calling you at work) until you pay back your loans. You can, however, write them a letter to make them stop calling. This does not take care of the underlying problem, but it can stop them from harassing you. It is credit repair after bankruptcy. And, there are many unscrupulous collectors who ignore the Fair Debt Collection laws and still call. Debt consolidation can take of this too without your creditor being able to deny knowledge of having received a letter.

For more information on Fair Debt Collection laws, visit Fair Debt Collection at the FTC's web site.