What to Avoid While Repairing Your Post-Bankruptcy Credit 

Many credit repair companies prey on people’s hopes to rebuild their credit. As a result, many people are left in the situation of wondering what they can and cannot do to rebuild their credit score. While there are various steps that you can take to rebuild their credit, this article reviews some critical steps that you should avoid taking as you rebuild your credit score.
Do Not Expect Things to Happen Quickly
Some credit repair agencies promise to improve credit scores within a short period of time, which might be either weeks or months. There is no proven way to quickly rebuild your credit score. Instead, it often takes a substantial period of time and careful decisions to rebuild a person’s credit score. Consequently, you should be cautious about any agency that promises to quickly rebuild your credit score. 
Do Not Expect Too Much
Credit repair companies often claim that they can do a lot to repair your credit score. In reality, the only way that companies can help you is to make sure you properly maintain your credit history. Credit agencies collect data gathered by banks, mortgage companies, and various other creditors. The big three credit agencies are only able to legally report your bankruptcy info after seven or 10 years, depending on the type you filed. Details from reports cannot later be erased. 
There are a limited number of ways that companies can help repair your credit score. The aspects of your credit score report that companies can help with include errors made on your report or those that extend past this reporting period. If there are any errors in your credit report, you can remedy these mistakes by contacting the credit reporting agency.
Do Not Disclose Personal Information
If you decide to use a credit repair agency, there are many helpful steps that you should take. The most critical of these is to avoid disclosing personal information to the agency before you speak with the Florida Attorney General to ensure the agency is reputable. It is also a good idea to check with the Better Business Bureau or local consumer protection agency to determine if complaints have been filed against the company. Even if there are not any complaints, you should still be cautious about using the services of a credit repair agency or the types of services that the agency claims to provide. 
Exemption Laws are Constantly Being Updated
While the federal government often views canceled debt as taxable, the Internal Revenue Service now recognizes an exception for canceled mortgage debt to purchase a principal debt. Florida, as well as many other states, have laws that regulate consumer repair companies. To assess what exemptions apply to your situation, you should not hesitate to speak with a knowledgeable bankruptcy attorney.
Speak with an Experienced Bankruptcy Attorney
If you or a loved one has questions or concerns about the bankruptcy process, do not hesitate to speak with an experienced attorney at Adam Law Group today to schedule a free case evaluation.