If you are considering bankruptcy, you may be concerned that you will be left with poor credit. Of course, after you file bankruptcy, it will appear on your credit report and certainly impact your credit score, but there are ways to rebuild your credit including secured credit cards. A secured credit card is an option for people with either very little credit history and those with low credit scores who want to improve their credit worthiness. A borrower makes a refundable cash deposit - … [Read more...]
Rebuilding Credit After Bankruptcy
If you have visited any of the credit reporting agencies' websites following bankruptcy, you may have seen a warning stating that, "Having a bankruptcy in your credit history will seriously affect your ability to obtain credit for as long as it remains on your report." Of course, in real terms this means that filers may have trouble qualifying for a loan, an apartment, utilities, or even employment. This leaves many wondering, “Just how long will a bankruptcy affect my credit so I can get on … [Read more...]
Will I Be Able to Purchase a Car After Declaring Chapter 7 Bankruptcy?
Bankruptcy can provide an opportunity for people struggling with a difficult financial situation to get a fresh start. Clients often wonder if they can qualify for a car loan following bankruptcy in order to get back and forth to work or to get their kids to school. How Will Bankruptcy Impact My Ability to Get Credit Often times bankruptcy is seen as a responsible step to getting your finances in order, but, of course, there is a period of time where you will have to reestablish your … [Read more...]