 Just filed bankruptcy, when will my credit be better? |
| hello, I just filed for bankruptcy oct 25th, i haven't received my discharge yet , but will be very soon. I was wondering, how long will it take before my credit gets good enough to maybe get a ... |
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 Credit card question... Please read. I'm confused? |
My credit line is 200.. So my bill will be about $20-30. But Interest is 24 %... So will I have to pay Alot more?
It's my first credit card
Also, If I pay in full- Will I ... |
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 Is it possible to go from a near perfect credit score to ZERO in one months time? Cause it happened to us.? |
| My boyfriend has established excellent credit from a young age, he currently has no credit cards. We've been house hunting for YEARS and we are finally close to closing on one, been working with ... |
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 Im only 21 and have bad credit can i get a loan? |
| i have been trying to get a loan for about 7000 but it seems impossable is it?? i messed up bad got into debt to fast is there any place that offers loans with a 498 score or should i give up looking?... |
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 Finance/credit question? |
| I needed a co-signer when I bought my car because my credit wasn’t strong enough. After I bought the car I got laid off and got into debt. My score was like a 580. I just paid off 2 credit cards ... |
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 Would it be a good idea to take out a personal loan to pay off high interest credit card debt? |
| I think Im getting charged about 8.99% intrest on my credit card. What kind of interest would their be for a personal loan? Would that be worth it?... |
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 I dont really get the whole concept of a credit card. |
| how does the whole credit card thing work, how do you use it?... |
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 How to improve credit score |
| I am 21 years old and have credit issues.I looked my credit up and it said i have a 600 (D) rating .I only have hospital bills and one cell phone bill.I haven't had anything else in my name but ... |
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 How can I get out of debt? |
| I am swimming in credit card debt. I've got creditors calling my house and on some cards I can't make the minimum payment. I feel like I will never ever be good with money.... |
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 How should I handle my upside down car loan? |
| I owe 11,000 on my 2007 car that I bought new, it is worth only 8K to sell privately and 7K or less for trade in. Obviously I bought it from a crook of a car salesman while I had bad credit, big ... |
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 Is it easy to get a loan for bussiness (100K)? |
| how can i take out 100 K is it easy and if so what about my credit? pls helpp any general tips would ... |
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 I've had a Capital One card for a Year,When will they raise my limit? |
| Hi..I've had my credit card for a little over a year now,And i have a limit of 500..it was 300 when i first got it..and a couple months latter they raised it to 500.But that has been about 8 ... |
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 What would help my credit score more? Pay off some collections, or pay down credit cards? |
| I have $90 and $160 collection accounts I can pay, or I have about $3000 of credit card debt I could pay a few hundred on maybe. I am trying to pump up my low credit score within the next month or ... |
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 Planning to marry? |
I am planning to marry my long-time companion
here is the problem. He is unemployed due to a disability his credit is really bad owing student loans and IRS. I have a good job and my credit is ... |
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 What is my credit score? |
| I got my report back from transunion and its only a two page report but know where on it does it have my credit score. Does anyone else know where its located on the report or what????... |
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colee | How do I rebuild my credit after filling Chapter 7 Bankruptcy ? |
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the_dude
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Your challenge here is represent yourself in a light which shows you as a responsible adult.
The first thing you need to do is have patience. Understand that change isn't going to occur over a few weeks or months. I don't know what the details of your exact situation, so please understand this advice is generalized.
It is important to show that you have a steady source of income in order to justfity future lendors granting you any new lines of credit. It's not a bad idea to commit a certain amount from each paycheck into a savings account. The easiest way to do this is to arrange direct deposit with your employer, and ask your bank to direct xxx amount of dollars each deposit into your savings.
This will help you in many ways- first, you are never physically touching the money, and thus less likely to spend it. Second, you aren't making a decision to deposit into savings, as it's done automatically by your bank. In a few months time, you can save a few thousand dollars this way!
It is important to show you have collateral- another reason for diverting funds into savings.
Do not apply for any credit cards at this point; any you are offered will have extremely high interest rates. Besides, how good does that make you look? "Uh, yeah, I can't pay off my bills, but I'm applying for another card" Lendors may grant you credit, but it doesn't make you look responsible.
Also, ask yourself WHY you need credit? Is it to purchase something that you don't need? Living below your means will keep you out of future monetary problems, and it's a skill not many Americans have, especially in this day and age of "0% financing for the first 36 months!"
The two biggest reasons for establishing credit are for buying a car and buying a house. In both instances, the more you save, the less you have to finance.
Again, patience. You've just thrown in the towel, so to speak- admitting that you cannot handle your financial responsibility. Save your dollars, and live below your means. Over time, you as you demonstrate responsibilty, you will not only have accumulated savings, but will be looked upon more favorably by lendors. |
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HiAmp
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Why would you want "credit"? To get into debt again?
Don't do it. There are ways to get around having a FICO score.
Ignore your FICO score and work on rebuilding your financial life.
Seriously, over the last 6 months, I've learned so much from Dave Ramsey. You should give him a listen, and maybe even give him a call. He's on weekdays between 2:00-5:00 Eastern. If he's not on a radio station in your area, you can listen to the live stream at the link below (when the show's on, there will be a link for live stream in Windows Media format). Check it out. It could save your future. |
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KL
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Re-establish credit. You may find it difficult to qualify for credit cards, but you can always take out a secured credit card...most banks offer them. You give the bank $500, they give you a credit card with a $500 limit. It sucks because they rates are high, even though is officially your money, but use it once a month and pay it off monthly, and it will help.
DO NOT max anything out and DO NOT have any late payments. Issues after a bankruptcy is a huge no-no. |
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devildog29
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OK the way I did it was to cosign on a car with someone with good credit, IE mom, wife etc. Then go online to some of the companies who will give credit cards to those just out of BK (listed below). Finally don't miss a single payment and try to pay off everything relatively soon after charging. It will build a new positive history. Expect it to take a good 2 years before you see anything good, and 5 years before it doesn't matter anymore. You can also manufacture credit which is done by going to your bank and giving them an amount of money say 1000.00 and have it placed in a CD. Then you get a personal loan for 1000 secured by your CD. It obviously will cost you money but it will give you a good credit reference right from the get go. Good luck |
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tanyawi
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BUDGET. No more credit cards, or be sure you can pay them off each month. If you don't need it, don't buy it. No more renting videos, or going to the movies until you have the money. No more foolish spending, go to garage sales, used clothing stores, drop the cell phone or the extra stuff your paying for on your home phone. No more tanning, or having your nails painted(if a woman)
It's not fun or easy, but you'll sleep better knowing you can make ends meet. If you have kids then you'll be showing them by example on how to get your money in order. |
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answermonkey
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* Nothing in credit is "forever." A bankruptcy legally can remain on your credit report for up to 10 years, but its effect on your credit score can start to diminish the day your case is closed -- if you adopt responsible credit habits such as paying your bills on time, using only a small portion of your available credit and not applying for too much credit at once.
* You have to get and use credit to build your credit score. Living on a cash-only basis may be a smart choice for those who really can't handle credit. But if you want to rebuild your credit score, you can't sit on the sidelines.
* If your problem was overspending, you'll find plenty of information on this site about creating and sticking to a budget. (See our Decision Center: Learn to budget).
* If you didn't have enough savings to survive a job loss or other setback, get serious about establishing an emergency fund.
* If you were sunk by medical bills, seek a job with insurance coverage or check to see if your state offers coverage. |
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nina_ross692000
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You won't have to credit cards will come in the mail like crazy. A friend and I both filed Chapter 7 and as soon as we did, we both got credit cards from 3 different companies. Of course you have to go through the process. Please be careful this time. |
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AlphaFemale
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Get a credit card. Yes you can. Make sure you pay more than the minimum amount and always before it is due. |
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James H
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Have a look here. |
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eloriarl
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There's no real short answer to your question. It all depends on a lot of factors about your bankruptcy and what's current on your credit report now.
Check out creditnet.com and creditboards.com. Lots of good information out there to get you started on your road to credit recovery.
Good Luck! |
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David H
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In the above answer, HBCS Card Service was mentioned. This has been the best company to work with for rebuilding credit. Don't get a card with any kind of fees attached, and don't tress over high interest cards. Paying your balances off each month will negate the interest and help your scores.
BUT, the most important thing to do after bankruptcy is monitor your credit reports. Make sure all accounts are reporting "Included in Bankruptcy". Than go back six months later and check again. Make sure they are still reporting properly.
Buy the book "Guaranteed Credit" by Arnold S. Goldstein |
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