I've read that after people file for personal bankruptcy the thing that often keeps them from rebuilding good credit is not knowing what steps to take. I am looking for resources of things to read-either books or online about how to begin building financial responsibility and rebuilding your credit after bankruptcy. PLEASE ONLY RESPOND WITH ANSWERS FOR RESOURCES THAT YOU KNOW OF. Thank you for your help!
2007-02-01 01:51:06 · 7 answers · asked by RR 2 in Business & Finance ➔ Personal Finance
one of the best resources is a competent bankruptcy attorney. This would not be something you can do on your own, you'll have to engage the services of a lawyer. If you pick a reputable one, and not just the loudest one on the TV at 3am, they typically have built fact sheets and packages that explain exactly how to do the things you are asking about. Remember, the first session is usually free, and their fees aren't outlandish, remember, you are going them telling them you are too broke to pay your bills, they know this and charge accordingly.
2007-02-01 01:55:49 · answer #1 · answered by Shredded Cottage Cheese 6 · 0⤊ 0⤋
My bankruptcy cost $1000 (USD) upfront.
That was the cost of the attorney, all of his consultations, all the paperwork his office filled out and filed for us, and handling all the rogue phonecalls from collectors who still wanted their money.
Sounds like a lot, but when you consider you are filing for bankruptcy because you have SO much debt you can't pay, as soon as you don't have to pay those monthly payments the attorney cost really isn't that much.
After we were discharged I applied for an "OrchardBank" credit card, (any annual fee credit card would do). I use this to buy gas and groceries and pay it off every month. Honestly that is the best thing you can do to rebuild your credit.
2007-02-01 02:02:40 · answer #2 · answered by cirestan 6 · 0⤊ 0⤋
The most important thing is to pay your bills on time after you file for bankruptcy and avoid the same habits that got you there in the first place. Bankruptcy law is one of my areas of practice and I've written an article on this topic on my blog. See the link below.
2007-02-01 15:42:39 · answer #3 · answered by Carl 7 · 0⤊ 0⤋
I do know of people that have gone bankrupt. They start getting credit card offers in the mail. If you begin with one that has a fairly low limit and pay it on time every month, that will go into credit report so you are establishing and re-building new credit. Hopes this helps some.
2007-02-01 01:58:32 · answer #4 · answered by luckylindy0 4 · 0⤊ 0⤋
a thank you to advance Your credit status After financial disaster : unfavorable credit rankings and financial disaster are the two maximum dreaded words in the financial international. those 2 issues can a great deal impact your financial challenge. yet what you at the instant are not conscious of is the reality which you will advance your credit status after financial disaster. Your credit status and financial disaster ...
2016-10-16 09:59:32 · answer #5 · answered by ishman 4 · 0⤊ 0⤋
You'll find your answers on this website. Good luck!
2007-02-01 10:14:42 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Start with this.
2007-02-01 01:59:22 · answer #7 · answered by SDD 7 · 0⤊ 0⤋