So your recently filed bankruptcy has just been discharged.
What is your next step? Most people at this point would cower in shame and not even think about looking at their credit reports for fear of that dreaded FICO score number.
What if it is so low, that I break my computer just looking at it? Actually, not looking at your credit reports after your bankruptcy has been discharged is probably the biggest mistake that anyone could make at that point.
See your credit reports will have a ton of errors on them due to the fact that since you stopped paying on your bills, the creditors more than likely stopped updating your credit reports.
I have seen plenty of credit reports from people who have filed bankruptcy and let me tell you they are far from correct! Fixing these errors is most defiantly your first step in repairing your financial life after bankruptcy.
First of all, I suggest getting a copy of all three of your major credit reports; Equifax, Experian and Trans Union.
You do not need to pay for your scores at this time, however if you want to track your progress then I do suggest doing so.
One of the few ways you can get your hands on your actual 'FICO score' is to order your three reports and scores from FICO.
com.
It will cost you around $50 to do so, but like I said, you will know where you started and how far you have to go to reach that magical 700+ credit score again.
Likewise, you can just go online and order all three reports without scores from annualcreditreport.
com for free once a year.
Either way will work.
Once you receive your reports you will need to go over them with a fine tooth comb and highlight every error you find.
Now for the important part, you must write letters to all three of the credit bureaus and tell them of these mistakes.
Here's a little secret, DON'T TELL THEM THE ACCOUNTS WERE INCLUDED IN A BANKRUPTCY!! By doing so you practically seal these accounts to your reports for 7 years, instead you want to dispute something about the account that is inaccurate and ask the credit bureau to remove the account.
Once you write the letters mail them and wait.
The credit bureaus have 30 - 45 days to respond to your letters.
Once they are done investigating your disputes, they will mail you the results.
Now you just need to repeat this process until you are satisfied with the results.
By doing this you can and will remove a majority of the negative items from your credit reports.
Your next step would be to start to re-establish some positive credit accounts.
Accounts that over time will increase your credit scores by reporting your positive payment and account activity monthly to the credit bureaus.