What you should know about Bankruptcy      Some people think they know enough about bankruptcy until they are actually facing it then a few other concerns pop up that need to be thought out. Bankruptcy should really be viewed as a last resort. Once you claim bankruptcy you cannot simply just claim it again in a few years if you find yourself in a difficult financial situation. If you are indeed filing for it, you will see on the forms items that read "included in bankruptcy". Here if there are items you would like to dispute you should do so all at once but not more than three at one time. If it does not work the first time you can continue to dispute it thus trying to get the creditor to remove it from your file.  Some matters on your file are easier to dispute than others, some of these items are ones over two years old, accounts that had late payments on them but that ultimately you have paid off, various settled accounts, any repossessions or charge offs.      Some of the more difficult things to dispute if filing for bankruptcy include any collections, IRS liens, State liens, judgments, past due balances, any recent bankruptcies, late payments etc. The reason these items are more difficult to dispute is because your creditor can validate them. If you do indeed file a dispute, legally the credit bureau and your creditor must investigate it. If they cannot verify it, it must be removed from your credit report. Remember, you can dispute not only issues included in your bankruptcy but anything on your credit report as well.

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