Post Bankruptcy question, please??

Question

Okay my huzband & I are n the middle of bankruptcy (ch. 7) and I want us to get very financially wise and into saving and building great credit. How do we get back on our feet after bankruptcy?

I will gladly accept answers from:
-those currently going thru bankruptcy (share experiences)
-those finished with it (what are you doing to prevent debt again)
-those considering it...(do feel like u can't take it anymore)
-experts in the field(bankruptcy/financial experts)
-anybody who knows anybody who filed

Thank you!!!

Answer 1

Good question!!!

You need to wait until after you are discharged to really do anything.

Once the bankruptcy is discharged, you need to do the following:

1. Pay your bills on time

2. Dont incur any unecessary debt

3. Open sucured credit cards that report to the credit bureaus.

4. Wait 6 months after discharge, then dispute the BK with the 3 bureaus. After 6 months the BK filing is stored in the Federal Archives and rearely will it be verified, so it falls off!!! 100% true

5. Continually build your credit by gradually opening low limit cards, like Eufora, Orchard, 1st Premier..... and asking for higher spending limits every 6 months.

6. Open secured loans that report to the credit bureaus.

7. Finance furniture (buy here pay here) that reports to the bureaus!

8. Piggyback other peoples good credit accounts (BEST SECRET IN THE BIZ!!! follow this link: http://www.expert-credit-advice.com/building_credit.htm)

9. Dont file bankruptcy again!

There are the facts from a credit expert.

You have the right proactive attitude. Keep your head up, put in the effort, do the right thing and eventually you will look back on this bankruptcy and laugh.

Wishing you the best of luck!

Answer 2

At SAVEFINDER.NET- you can find the best financial solutions

RE Post Bankruptcy question, please??

Okay my huzband & I are n the middle of bankruptcy (ch. 7) and I want us to get very financially wise and into saving and building great credit. How do we get back on our feet after bankruptcy?

I will gladly accept answers from:
-those currently going thru bankruptcy (share experiences)
-those finished with it (what are you doing to prevent debt again)
-those considering it...(do feel like u can't take it anymore)
-experts in the field(bankruptcy/financial experts)
-anybody who knows anybody who filed

Thank you!!!

Answer 3

Be very careful with your finances. Put yourself on a budget and stick to it.

If you want to rebuild your credit, you have to do it slowly. I filed last year and already have rebuilt to a point. If you would like to get a credit card, which is specifically for people in/coming out of bankruptcy, try the link below. They don't give much credit, but it is enough that you can start rebuilding immediately.

Good Luck!

Answer 4

The best way to build credit after banruptcy is to wait a couple months, then get a low limt credit card. Use it to buy something very small. Then pay it off that month. Keep doing this for a few months, keep the card account open, and this will show as positive on your credit.

Answer 5

FT is correct but charge something on it monthly even if it is just a tank of gas. Pay on time all the time. You will get many offers in themail and take about 3 cards. Do the same with each. Your scores will come up.