Rebuilding credit after bankruptcy is not difficult. In our experience, within 6 months to one year, our clients recover from bankruptcy and will start receiving credit card offers. Over next One year, they can rebuild their credit and achieve a higher score than what they had prior to the bankruptcy filing. This is true if their credit was previously damaged by late payments and collection accounts.
Video Explaining Why Bankruptcy Can Rebuild Your Credit after Bankruptcy.
Chapter 7 will give you the fresh start and the ability to start improving your finances. Bankruptcy is not an easy decision, but in certain situations, it’s the right decision. I can help you decide if bankruptcy is right for you. My name is Roland Kedikian and I am a California licensed attorney. Call now and ask to speak with me personally
Steps to take after Bankruptcy To Start Rebuilding Your Credit.
Order a copy of your credit report for Free You are entitled to a free copy of your credit report from all 3 credit reporting agencies once every 12 months. Start by reviewing the information reflected in your credit report. Get a copy of your Free Credit Report from here
Apply for Secured Credit cards to help rebuild your credit after Bankruptcy after your bankruptcy is completed and you received a discharge, begin rebuilding your credit by applying and obtaining a secured credit card that reports to credit reporting agencies your transaction history. Secured credit card require you to deposit funds into an account and you charge against funds that you have with that bank. As you charge and pay off, over time these transactions will begin to rebuild your credit score Offers for Secured Credit cards can be found here. But remember within 6 – 12 months, you will start getting offers for regular credit cards as well.
If you need top buy a car, Bankruptcy Car Loan – Car Loans after Bankruptcy are available. You should review your current finances and your credit scores before thinking of Bankruptcy Car Loan. If one has filed bankruptcy under chapter 7 of bankruptcy, the debtor cannot file for bankruptcy for duration of 8 years. The maximum duration of any car loan is 6 years. Thus, the lender is sure that the buyer of the car cannot resort to bankruptcy. This decreases the risk of lending for the lender. However any Car Loan after Bankruptcy or Auto Finance after Bankruptcy one should be clear about the terms and conditions especially the rate of interest and the monthly payments. You can apply for a loan here