President Bush in April signed into law The Bankruptcy Abuse and
Consumer Protection Act. This bill promises many changes to law, and
will make it more difficult for the average person in financial trouble
to have debts removed with bankruptcy. Recent social and economic
changes indicate that those considering a bankruptcy should do so now,
as the queue is getting longer.
While working to clear up your credit, in cases where your story
conflicts with the reporting creditor, the bureau is going to side with
the creditor--unless you have strong documentation of the error. The
bureau will inform you that their reinvestigation is complete and if
you disagree with the outcome, you can record a 100 word statement
telling your side.
At the end of each report will be a log of inquiries. An inquiry
notation is made each time someone requests a copy of your credit file
from that credit bureau. Any company that receives a copy of your
credit profile will be listed under this inquiry Section of your report.