My credit is a mess! Would I be better off with bankruptcy or trying to clean it up with credit repair?
If the “mess” on your credit report includes reporting errors credit repair may be the solution to your problem. If you sign up for our credit repair services we will review the content of your credit reports and, with feedback from you, identify all of the errors. These errors should be disputed. Errors may include paid accounts reporting with balances, accounts that are not yours and collections that are no longer owned by the reporting party. The presence of a “mess” does not indicate the need for bankruptcy.
Clean Up Options
Another consideration, prior to thinking of bankruptcy, is the age of your collections. Many credit repair clients discover that debts which they thought to be accurate are beyond the statute of limitation for collection through the courts as well as the reporting period limits. If your debt is beyond the statute of limitation it could still be discharged in a bankruptcy, but you should consider the option of negotiating a settlement. Once a debt is past the statute of limitation a collector has no legal leverage and should be very receptive to negotiation. If the account is beyond both the statute of limitation and the reporting period limit you could consider a pure credit repair solution by removing the account from your credit report and sending the collector a cease communication letter if they are bothering you.
The Bankruptcy Answer
Bankruptcy, on the other hand, can free you from active debt and may be the only appropriate course of action. If you are currently unable to pay your bills, or are being dunned by collectors for legitimate debt you should consult a bankruptcy attorney.