My credit situation was not because I abused my line of credit or credit card, I just couldn't carry everything myself. I will be out of my bankruptcy in may and need pointers on re-establishing my credit.
2007-03-14 02:54:53 · 6 answers · asked by Jamie H 1 in Family & Relationships ➔ Marriage & Divorce
people file for bankruptcy for different reasons. It does hurt your credit, I'm not going to lie; I used to work for a credit card company; it stays on your file for 7-10 years. The only way to build your credit back up is to get a loan for something and make payments on time each month. You'll probably be given a higher apr, but that's how it goes =) If you continue with that, that will help you tremendously. If you get a chance to fill out an application it may ask you if you did and you can explain your situation that way what happened, It won't make things look any better but at least you have it down. Once it falls off your credit report, it's like being a teenager and starting all over again and you'll still want to take a loan out and make payments that way =)
2007-03-14 03:01:41 · answer #1 · answered by suzlaa1971 5 · 1⤊ 0⤋
At this site you can solve your problem really fast: CREDIT-AND-FINANCE.COM-
RE I am currently going through a bankruptcy because of a divorce.?
My credit situation was not because I abused my line of credit or credit card, I just couldn't carry everything myself. I will be out of my bankruptcy in may and need pointers on re-establishing my credit.
2014-10-02 11:48:15 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You will get lots of credit offers, only because you have filed for a BK and you can't do it again!
The best advice for building your credit is to charge no more that 1/2 your credit limit. Do not pay it off every month. Instead, make more than the minimum payment. Why? Because your credit activity gets reported to the 3 credit reporting agencies every month, and what you want to show is a history of on time payments and less than 1/2 your available credit charged. If you pay the balance off every month, the credit companies have nothing to report to the credit agencies.
2007-03-14 10:20:15 · answer #3 · answered by Royalhinney 7 · 1⤊ 0⤋
Start out small maybe with a car loan short term but follow the term to the letter do not pay off early. any of your outstanding loans now try to reaffirm the loan. what ever you do dont ever be late on home payment. what ever you decide plan you credit and work your credit plan. It takes about 4-5yrs to get back close to the top
2007-03-14 10:07:18 · answer #4 · answered by that guy 2 · 0⤊ 0⤋
You're going to be surprised how many credit card companies send you offers even though you've had a bankruptcy. It's not hard to reestablish credit.
2007-03-14 10:03:10 · answer #5 · answered by Zabes 6 · 0⤊ 0⤋
Get one credit card and pay it in a timely matter and your credit should be restored.
2007-03-14 10:24:47 · answer #6 · answered by kitkat 7 · 0⤊ 0⤋