During this financial crisis that our economy is currently in we continually hear people and companies filing for bankruptcy. But we do not hear about what those people do after filing for bankruptcy or how they rebuild their credit afterwards. Without good credit people cannot file for a loan to buy a car, get a mortgage for a house, or even get a simple credit card. Here are a few steps that people can take to start to rebuild their credit after bankruptcy.
1. Make sure that you have a checking and/or savings account. Many times lenders will look to see if you can keep a positive balance and see how well you can maintain your accounts.
2. Pay your bills on time or early for that matter. If a company sees that you are paying your bills on time they might be more willing to look past your bad credit.
3. Apply for a secured credit card. A secured credit card is a credit card which you put cash on to. For example if you deposit $1000 you cannot charge more than $100 on the card. It acts and looks just like a regular credit card but it stops you from spending more money then you actually have. It also allows you to start establishing a good credit history.
By doing these three simple steps you can be on your way to establishing good credit again. It will not happen overnight but you will be on the right tract.
http://www.wikihow.com/Rebuild-Credit-After-Bankruptcy
http://www.legalhelpers.com/after-bankruptcy/rebuild-credit.html
http://www.associatedcontent.com/article/130426/quickly_rebuild_your_credit_after_bankruptcy.html
1. Make sure that you have a checking and/or savings account. Many times lenders will look to see if you can keep a positive balance and see how well you can maintain your accounts.
2. Pay your bills on time or early for that matter. If a company sees that you are paying your bills on time they might be more willing to look past your bad credit.
3. Apply for a secured credit card. A secured credit card is a credit card which you put cash on to. For example if you deposit $1000 you cannot charge more than $100 on the card. It acts and looks just like a regular credit card but it stops you from spending more money then you actually have. It also allows you to start establishing a good credit history.
By doing these three simple steps you can be on your way to establishing good credit again. It will not happen overnight but you will be on the right tract.
http://www.wikihow.com/Rebuild-Credit-After-Bankruptcy
http://www.legalhelpers.com/after-bankruptcy/rebuild-credit.html
http://www.associatedcontent.com/article/130426/quickly_rebuild_your_credit_after_bankruptcy.html
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