Posted on
October 2, 2009
at
6:29 am
Hi, can you give pointers on rebuilding one's credit after a chapter 7 bankruptcy discharge?
Posted on
October 2, 2009
at
6:36 am
pointers on rebuilding one's credit after a chapter 7 bankruptcyObtain a copy of your credit report and look for errors. If you find one have it corrected. Remember that a bankruptcy Chapter 7 stays on your report for 10 years.
Posted on
October 2, 2009
at
6:39 am
pointers on rebuilding one's credit after a chapter 7 bankruptcyTry to a secured card first as it would be hard to get an unsecured card with a reasonable interest rate after a bankruptcy. Not that it;s impossible to get a credit card..it's just going to have a higher interest rate - which you don't need at the moment.
Posted on
October 2, 2009
at
6:47 am
I agree but just a note on secured cards, some of them have huge upfront and annual charges onto their accounts you dont' need those when youre just starting to build your credit.Also make sure that they report to the major credit bureaus. It's good for your "payment history"
Posted on
October 2, 2009
at
6:51 am
After 12-18 months if you're good on your payments, upgrade to an unsecured card.
Posted on
October 19, 2009
at
1:09 am
To help in the process of rebuilding credit after Chapter 7 bankruptcy, it can also help if you avail of a gas or department store card. You'll need to use credit in order to rebuild it, so it helps if you consistently use these cards whenever making purchases. Of course, you need to practice paying for these bills in full and on time, for history not to repeat itself.
