2006-09-18 15:21:52 · 9 answers · asked by seamlessB 1 in Business & Finance ➔ Credit
I've counseled clients recovering from bankruptcy, and the best way is with a credit card. A lot of people get in trouble with credit cards, but with self-control, a credit card is a very useful tool. Just exercise discipline, and use it judiciously!
There are credit cards that specialize in high-risk candidates. The APR will be high, the fee will be high, and your limit will be low. But if you are approved for one, it's a start on the way to good credit. Charge only the things you know you have money in the bank for, and then pay it off *in full* every single month. Never miss a payment!
This is the most efficient way. Good luck, you can do it!
2006-09-18 16:16:33 · answer #1 · answered by banana_fan 2 · 0⤊ 0⤋
Mighty_wh is nice there are a approach of creditors which will lend to individuals that are merely out of BK. the aspect you should do is come across a private loan banker specializing in sub-best lending. you decide on to get a specialist or different smart you'd be dropping some time. once you've stumbled on one he will desire various issues to finish a private loan application and get a credit rfile on you so he will have your credit status. After he has your credit status he will be able to inform what mortgage courses you're qualified for as well because the percentage of domicile they're going to lend to you. You stated your BK must be discharged on March 2006, i am hoping that turned right into a typo and your BK has been discharged, because back the longer is has been discharged the more advantageous acceptable your human being loan kit will look to a lender. i am hoping this has been of a few use to you, solid luck. "strive against ON"
2016-11-28 00:12:18 · answer #2 · answered by sicinski 4 · 0⤊ 0⤋
Depends on if it has been discharged. If it has you can get a loan with a cosigner. Make sure the bank or lending institution reports both signers to credit bureau so it rebuilds your credit. You can also try a finance company just be sure to ask if they report to the credit bureau and ask which one. Some places will lie, this way you can check. If you filed ch 13 and it has not been discharged you can't borrow any money without going through the courts.
2006-09-18 15:28:37 · answer #3 · answered by belle_25 2 · 0⤊ 0⤋
How to Improve Your Credit Rating After Bankruptcy
http://get-out-of-the-debt-trap.com/category/How-to-Improve-Your-Credit-Rating-After-Bankruptcy.html
2006-09-19 00:06:52 · answer #4 · answered by Anonymous · 0⤊ 0⤋
More times then not, if your currently in bankruptcy, banks will not approve your for anything.
the best thing to do, would be trying to get a secured card.
if your not familiar with them, its just a card where you make a deposit of about $300 or so [minimum] and that is your credit line. after one year or so, the banks gives you back your deposit and most banks even add intrest to your deposit.
try orchard bank, the specialize in helping out bankruptcy clients.
good luck and i hope everything works out.
http://www.orchardbank.com/ccssa/OBCustomerCare?cmd_Redirect=HomePage
2006-09-18 20:41:21 · answer #5 · answered by tahj. 2 · 0⤊ 0⤋
The bills you currently have....pay them on time every month and avoid getting behind on them. You could try to get a secured credit card and use it responsibly. I wouldn't get a loan like the others said just to have something else to pay unless you need it for something useful. It'll take time to rebuild your credit. I'm in the same boat....I'm currently in a bankruptcy.
2006-09-18 15:31:14 · answer #6 · answered by First Lady 7 · 0⤊ 0⤋
There is a lobbying group called JONAS that repairs credit reports with the assistance of a federal agency. They have been successful in removing liens, judgments, bankruptcies, charge-offs, etc. from credit reports.
They also have been successful in getting judgments voided and liens removed from public records based on the findings of the federal agency.
If you want more info on JONAS, email me at white_hare@hotmail.com
2006-09-22 09:46:11 · answer #7 · answered by rockin_in_vegas 1 · 0⤊ 0⤋
If I understand this - just went into Bankruptcy and now you want to go back into SLAVERY?
Stop visit DaveRamsey.com learn what you don't know before you get cremated again.
You can live life very well with cash only. You don't even need a I Love Debt Score to buy a house.
You need 2nd and 3rd job to get cash savings and bills paid. Debt slavery is a choice.
2006-09-18 15:31:59 · answer #8 · answered by Anonymous · 0⤊ 0⤋
if possible make a small purchase with a cosigner,pay more than min pmts over a longer period of time, when finished payoff, try obtaining with own credit history and always keep current on pmts. history is important so make it your best shot.
2006-09-18 15:27:32 · answer #9 · answered by crazy b 3 · 0⤊ 0⤋