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...]
How Can I Raise My Credit Score Following Bankruptcy?
Many clients who have filed for bankruptcy express a sense of relief when everything is settled. They often look forward to getting off to a financial fresh start. One question that clients ask is how they can start to rebuild their credit after the bankruptcy process is complete. The good news is that just by filing bankruptcy, you may have actually helped your score. Researchers report that credit scores typically plunge in the 18 months prior to filing bankruptcy and steadily rise … [Read more...]