2007-01-23 08:57:42 · 6 answers · asked by dmp 1 in Business & Finance ➔ Credit
Sadly, most people don't care that you've had bankruptcy. Just start rebuilding. Believe it or not, people will still give you credit cards. Just go try to get one.
2007-01-23 09:02:11 · answer #1 · answered by Jerko 2 · 0⤊ 0⤋
A bankruptcy is devastating, it is also permanent. It will remain on your credit report for 10 years but that does mean not it's devastating impact will last that long. Creditors will see the bankruptcy but they will also take note of a long trend of responsible money management. As long as you have zero delinquincies, a respectable debt ratio, and do not open any further credit than you need your score will improve tremndously to the point where you can be considered a good credit risk in about a year's time.
If you have no credit then you can still get a credit card but with a higher interest rate. Orchard Bank is good option as they are cater to people with credit problems. You may have to pay an annual fee and other assorted, and ridiculous, fees, but you can use it to rebuild your credit by establishing a pattern a of timely payments. Don't use a secured card, it will not improve your score. After a year get rid of it in favor of another card with better terms. You need to have credit to establish or re-establish your credit rating. Learn from the past and use it wisely.
2007-01-23 09:17:21 · answer #2 · answered by douglas l 5 · 0⤊ 0⤋
Hmm, you may want to go through your current bank for some help. As long as you are making your rent, car, utility payments on time your credit should be moving in the right direction. Try getting a small limit credit card (but dont' use it). Keep it open for a bit so you have some credit. Your bank might let you place a secure account with a small amount of money in it ($300 or so)and give you a credit card for that amount. See what they can do for you.
2007-01-23 09:02:26 · answer #3 · answered by Drew P 4 · 0⤊ 0⤋
You need to build credit. Do you rent an apartment? Do you have a checking and saving account? Do you know that there credit cards that you send in like $500 and they will extend your credit as time goes buy? Have you bought a car on credit, example $2,000 - $1,000 down and $50 a week?
Thees recorded transactions are the credit history that permit us to rebuild our credit. If we don't have these things the most important is the savings and checking account. If we build up our savings we can buy things that would be out of reach for as little as $1,000.
The credit report will take care of itself if you save and use the money to acquire a stronger financial position.
2007-01-23 09:11:18 · answer #4 · answered by whatevit 5 · 0⤊ 0⤋
bankruptcy stays on your credit report for 10 years and there is absolutely nothing u can do to remove it...this is indeed factual information and they report only factual information
get a free copy of your credit report at the following:
www.annualcreditreport.com
this is the ONLY site set up the the US Government and is FREE
2007-01-23 09:00:42 · answer #5 · answered by sunbun 6 · 0⤊ 0⤋
Sorry,
you're going to have to wait until 2008 to request the bankruptcy be removed.
2007-01-23 09:03:59 · answer #6 · answered by Moe 1 · 0⤊ 0⤋