It might not seem like it, but if you really want to, bankruptcy can actually work for you. Despite the fact that your bankruptcy will remain on your credit report, you can remain assured that you won’t be scarred for life. Actually, you will find that several companies will work with you even if bankruptcy is mentioned on your credit report.

You must note however, that there will be a few barriers to pass before you can get back on your feet. Rebuilding your credit will require some effort and strategy on your part, but it won’t be impossible. You will be able to turn the bankruptcy to your advantage, and this section will show you how you can do it.

1. Deleting Credit Report Errors within 48 Hours

This is positively the quickest way to correct any mistakes that can be made on your credit report and could raise your credit score at the same time.

Nevertheless, you can’t do this all by yourself. It can only be done via a mortgage company or a bank. If you apply for a bankruptcy home loan and find that there are errors on your credit report, you can ask the loan officer to carry out a Rapid Rescore. Nevertheless, you must make sure you don’t do this each time you apply for credit or you might get yourself into some bigger trouble. The Rapid Rescore strategy can be quite lengthy however as it needs some proper paperwork. To begin with, you will need some proof that the item is false. To do this, you will have to ask the creditor to admit it on your behalf.

For instance, you can get a letter stating that the account isn’t really your account, a letter stating that the account was paid, a release of lien notice, a satisfaction of judgment, a bankruptcy discharge, a letter for deletion of collection account or anything else that can make your claim substantial. This is the same sort of documentation that a bank or mortgage company would need from you for the credit account in any case. The only variation is that now you can improve your credit score and receive a lower interest rate with it instead. The results aren’t guaranteed and will run you about $50 per account, so you must take advantage of it carefully.

2. Bad Credit Deletion

This is the utmost area where you've probably heard of many scams being reported. Credit repair clinics tend to charge a hefty fee for their services in return for a clean credit report. Sometimes they even maintain that they can give you a new credit profile! People are now spending hundreds, or even thousands, of dollars for something they can actually do themselves. Why? Because the majority of people out there don’t realize that they can clear up their credit by themselves.

More Bankruptcy Recovery tips on the next page of our guide, Bankruptcy Advantages 2