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Credit repair is important in Virginia. Your credit score affects all of your financing expenses. A poor credit score can cost you hundreds of dollars in higher interest payments every month. In cat we can help you improve your credit score usually in 45 to 60 days. An important part of financial stability is how to repair credit to maintain the highest credit score possible especially in Virginia.

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Credit Repair Company 4 Ways Bankruptcy Can Help You
While filing for bankruptcy may not be the ideal, there are ways doing so can help you.

Eliminate certain debts. Bankruptcy may allow you to wipe out unsecured debts, and some taxes. Student loans typically cannot be discharged, except in cases of extreme hardship. Secured debts, like car loans or mortgages (not including certain underwater mortgages) are not eliminated, however, past due payments may be restructured to let the borrower catch up.

Stop aggressive debt collectors. When you file, you become protected by the “automatic stay,” which stops most collection actions against you. This can give you breathing room while you get back on your feet.

Avoid taxes on canceled debt. If you don’t pay back some of your debt, the creditor may be required to send you a 1099-C reporting this “cancelled” debt as income. This can result in a tax headache for you in future years. But debts discharged in bankruptcy are not considered taxable income, so it’s one less thing you have to worry about.

Allow you to keep protected property. Most of the time, savings in your qualified retirement plans are safe from creditors. In addition, in every state there is a list of exemptions — property you get to keep. There are also federal exemptions you may be able to choose in certain states..
Can credit repair help you in Virginia to achieve financial stability? Bankruptcy Removal Can you remove a bankruptcy on your own?

Like all negative item disputes, it’s entirely possible to complete the process on your own; however, it’s a lengthy and tedious process that doesn’t guarantee results. You can dispute the bankruptcy either by stating an inaccuracy of the information included in your credit report or by asking the credit bureau how it verified your bankruptcy. As with any dispute, they must respond to your procedural request letter within 30 days.

In most cases, they’ll say that they verified it with the courts, but this is unlikely. You must then contact the court to ask how they verified your bankruptcy. If they respond that they never verified it, you should get that statement in writing, send it to the credit bureau, and ask to have the bankruptcy removed. This method isn’t guaranteed but is might be worth trying. Otherwise, enlist the help of a credit repair company to navigate the process for you.
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