If you were to believe what you hear and see in the media you would think that the credit rebuilding process is nearly impossible after filing bankruptcy. I don’t want to mislead you by any stretch of the imagination into thinking that it will be a walk in the park. I do however want to show you that you can do it yourself.

It would be impossible for me to explain everything there is to know about recouping from bankruptcy, in one article. However what I can do is give you a couple of tips that will allow you to rapidly get results.

In most cases after a bankruptcy is fully discharged you will still have some old accounts listed on your credit report. If some of the old accounts are still listed on your report this isn’t a problem simply have the credit bureaus remove them, by showing them proof that they were included in your bankruptcy. If you have a few accounts that were not listed in your bankruptcy, you will need to start the credit dispute process.

It is recommended that you approach the credit rebuilding process in the same manner as you normally would. Begin by requesting copies of your credit reports from all three credit agencies. With your credit reports in hand, you should highlight any and all errors found on the reports. If you are unsure of anything on your credit report, it’s best to dispute it anyway.

Ok my friend… It’s time to take the gloves off. We are about to dive into the credit repair process that I touched on earlier. In a nut-shell the bulk of the credit dispute process is achieved via a serious of dispute letters. A big key to achieving good results with the credit repair process is sending along as in as much proof as possible that will support your claims.

Once you have mailed out all your letters of dispute, it’s time to play the waiting game. No need to worry, you wont have to wait to long. Legally the credit bureaus have 30 to 45 days to investigate your disputes. If the credit bureaus fail to complete their investigation in the allotted amount of time they legally have to remove the claims in questions.

Since you have a little time on your hands while you wait for the credit bureaus to complete there investigations, you can get started on establishing your new lines of credit. This can be accomplished by obtaining one or two secure credit cards. Please do not make the mistake that many people do and try to apply for one of those department store credit cards, they are useless and do more damage than they do good.

DO NOT jump on the first secure credit card offer that comes along. Check the interest rates, review the terms of conditions. There is usually some sort of annual fee. Make sure to do your homework before making any type of commitment.

There is a downside though… You will have to pay a deposit that is normally equal to the amount of the credit that you are requesting. The minimum limit in most cases is usually around $300. Lenders do this to protect themselves, if the borrower fails to make payments they forfeit their deposit.

The secure credit card method comes highly recommended because the lenders behind them report to the credit bureaus as if they were normal type credit cards. At the end of the day it’s a win – win scenario for everyone.

My last word of advice for you is simply this… Do not let your past financial decisions hold your present and future choices hostage. Start the credit rebuilding right now by downloading my credit repair made easy system now.

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A Minneapolis jury today decided in favor of Experian in a trademark lawsuit brought by FICO against the company, in addition to TransUnion and VantageScore Solutions. The jury’s decision confirms Experian’s right to continue marketing its VantageScore and PLUS Score services, rejects FICO’s claim that it holds exclusive trademark rights to credit score ranges overlapping 300 to 850, and fundamentally protects consumers’ ability to choose the credit scoring service best suited to their needs. The jury also found that FICO committed fraud on the Patent and Trademark Office in obtaining its trademark registration.

“Today’s verdict is a victory for Experian and for American consumers,” said Kerry Williams, group president of credit services and decision analytics at Experian. “By preventing FICO from further stifling competition in the marketplace, the jury’s decision will increase consumer choice in credit scoring.”

The verdict in the United States District Court in Minneapolis follows an earlier decision by District Judge Ann Montgomery, which dismissed all of FICO’s other claims, including antitrust, false advertising and breach of contract. Today’s jury decision removes the final remaining claim in FICO’s case, and all claims have now been resolved in Experian’s favor.

“FICO’s trademark claim was the last vestige of a fundamentally meritless case, whose simple goal was to eliminate competition to FICO’s credit scores,” continued Williams. “Along with the court’s earlier dismissal of FICO’s claims, this verdict confirms that the VantageScore and PLUS Score services have introduced positive competition into the marketplace, which ultimately benefits consumers of credit scoring services.”

VantageScore is the credit reporting industry’s first credit score developed jointly by the three national credit reporting companies to deliver consistent, objective credit scores across their respective databases. VantageScore provides consumers and businesses with a highly predictive, consistent score that is easy to understand and apply. VantageScore utilizes a range from 501 to 990 that naturally aligns with well-known A, B, C, D and F grade intervals, and is used by four of the top five U.S. financial institutions and eight of the top 10 credit card issuers.

The PLUS Score model, developed by Experian, is a user-friendly credit score designed to help consumers better understand personal credit, how it impacts them and how best to improve it. Using a formula similar to those used by lenders, the PLUS Score helps consumers learn the factors that drive credit scores up and down. With a range of scores from 330 to 830, the PLUS Score model is based on the most current consumer information available.

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You are well on your way to understanding the credit rebuilding process. The goal of this article is to make everything as easy as humanly possible for you.

I am going to pull back the curtains and reveal some powerful secrets that I had only revealed to my students.

Forget about all of the mumbo jumbo that the credit repair experts tell you. The truth is the credit repair process is not complicated. I will give you the exact same advice that I give to my students. Start at the root of the process which is your credit score. You must first understand the job of the credit score. This number gives lenders a birds eye view of the negative and positive aspects of your credit report. Most credit repair systems that you find on the market today only focus on the negative aspects of the credit repair process and they totally neglect the positives.

Meet the judge, and the witness. The credit lenders are the ones who will judge us based on what our witness has to say. The witness is our credit score, which is suppose to give the lender a bias opinion on weather or not we can repay a loan.

The majority of credit repair experts will advise you to rid yourself of all credit cards. I advise against this when lecturing my students. This is a huge mistake and as a credit repairing strategy you should have one to two revolving accounts. This is the fastest way to boost your credit score 150 points. The goal is to keep your credit card accounts balances at 20% or below.

No need to fear if you do not have any credit cards and your credit may be to bad at present for you to get one. You can always request a secured credit card, it is easy to apply for and it will serve the purpose. You cannot use department story type credit cards. They are worthless and do nothing but damage your credit report.

Most individuals with credit cards end up ruining their credit because they do not understand the five ratios that effect their credit scores. Those ratios are based on usage and are as follows – 20, 40, 60, 80, 100 percent. If you were to use your credit card(s) with the usage of sixty percent you will have a neutral affect on your credit score. The two tiers below sixty will increase your credit score and the two tiers above sixty will decrease your credit score. For example if you were to keep a new credit card at a 20% usage you could raise your credit score by 150 points.

Credit repair is a battle and before you go into battle you should always prepare. In this situation I recommend that you arm yourself with knowledge of the process before you begin. The credit repair battle is unique because it is a two pronged battle. The first prong is to establish a new line of credit. The second prong is to remove any negative marks on your credit report. By following the second prong and eliminating all negative marks from your credit report you could increase your credit score by 300 points or more.

I recommend that you lead of your credit repair battle by establishing a new line of credit first since it is the easiest. You can accomplish this task in about a week or two. The process of removing errors from your credit report can be a little trickier and may require a good credit repair kit depending on your level of experience.  There are a ton of credit repair systems that you can choose from, however I am proud to say that the credit repair system that I developed is number one for a reason… It works! You owe it to yourself to at least check it out.

Read More on how to repair your credit yourself.

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