Beware of this rip offI have a very important warning for you. There is a hot rip off that is booming all across the country that can take you from a difficult financial situation and dig you deeper into a hole. Here’s how it works. There are thousands of organizations, companies, whatever you want to call them that claim that they can clean your credit.
That whatever bad stuff is on your credit report, late pays, collections, charge-offs, that they can magically make that stuff go away and give you a pristine clear credit report. It is a big fat lie. And in fact, it is illegal in several states. What they’re doing is they’re barraging the credit reporting agencies with dispute letters that temporarily for a very short window will clean your report and then all the bad information comes back, in the meantime you pay them hundreds or thousands of dollars that will be better used in your life. Source: http://clark.com/personal-finance-credit/bankruptcy/why-credit-repair-companies-ar/
Bankruptcy Can Offer True ReliefAfter Bankruptcy, most people's credit scores begins to improve. After the discharge of your bankruptcy you can begin to start rebuilding your credit. Before filing bankruptcy there are often several different damaging dings on a credit report from different lenders; all with different time stamps running before they can be removed. It is very difficult to improve your credit score when you still have delinquent debts or negatives on your credit report.
It is very important to understand that once a bankruptcy discharge is granted, a new time period starts running and everything positive that occurs from that point will increase your credit score and bankruptcy will actually provide true relief from your unsecured debt.