After you file bankruptcy (absolute) how do restart you credit.?

Question

I did not have credit card debt, but now how do I get a credit card to establish credit?

Answer 1

Once your bankruptcy is discharged, start applying for credit cards. Most companies are happy to give you a card fresh out of bankruptcy. Be sure to watch the rates though---some companies try to take advantage of you because they know you want to rebuild your credit. Capital One usually has pretty good rates and help people right of out of bankruptcy.

Also, you can try to take out a small loan with your bank. If you've established a good reputation with you own bank (by paying other loans on time), they're usually happy to finance regardless of bankruptcy.

You will also want to clean up your credit report once it's discharged. Some companies will keep reporting to the credit report agencies claiming that you still owe them money. Keep a close eye on your credit report (and score) and be sure to dispute your accounts, if necessary. This will also help with any future financing and to obtain credit with lower interest.

Good luck!

Answer 2

it is difficult and takes along time. You will be paying ALOT higher rates for the next 8-10 years. You will need to have bank accounts, start saving money, apply for a few of the credit cards that are easier to get. Be VERY careful with those though. They hit you on any fee they can think of, and alot you wont.

Alot of people file bankruptcy without realizing the long term effects.

Answer 3

I know Orchard Bank gives credit cards to people with poor credit or a bankruptcy in recent history. Try searching that name.

Answer 4

right now the only thing you'll get is a secured credit card. meaning you'll pay them, let's say, $500 for a card and they'll give you a card with a $500 dollar limit. they do take some finance charges from you so essentially its like a savins account, only working in reverse. essentially. what you'll get is an ATM card that reports to the bureaus. keep this up until your score improves then you can get a real card and go from their.

Answer 5

As soon as you discharge your bankruptsy you should have no problem getting a car loan or credit card. Try Capital One they love people who just discharged. Getting a car is one of the easiest things you can do to and that will start your credit, if you need a car.

Answer 6

Read my blog article on this topic.

Answer 7

no nned to estabilised