Posted on: 27th Jun, 2009 09:38 pm
What is the best way to bounce back after chapter 7? i would like to buy a house and a car...I just filed chapter 7 in Feb 09 I was told my discharge would be today. I havent rec'd anything letting me know this is the case. I would like to buy a car and a home, what are some good ways I can get my credit score ready for this and how long will it take? Also I attemped to get copies of my credit reports and none of the three companies will allow me to do so, is there a reason for this?
filing bankruptcy gives you a fresh financial start as it helps to eliminate or restructure your debts so that you can manage your finances well. however, when you file chapter 7, it hurts your credit score.
Hi SASHA!
Welcome to forums!
It is not easy to get a mortgage after filing Chapter 7. In order to get a FHA mortgage, you'll have to wait for 2 years after discharge and in order to get a conventional mortgage, you need to wait for 4 years.
There are various simple ways to improve your credit score. You should make it a point to pay your bills on time so that you do not get late on your payments. Late payments will severely hurt your credit score. You can take up a secured credit card with a small limit. To know more about various steps to improve your credit score, check out the given page:
http://www.mortgagefit.com/credit-rating/credit-repair.html
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
It is not easy to get a mortgage after filing Chapter 7. In order to get a FHA mortgage, you'll have to wait for 2 years after discharge and in order to get a conventional mortgage, you need to wait for 4 years.
There are various simple ways to improve your credit score. You should make it a point to pay your bills on time so that you do not get late on your payments. Late payments will severely hurt your credit score. You can take up a secured credit card with a small limit. To know more about various steps to improve your credit score, check out the given page:
http://www.mortgagefit.com/credit-rating/credit-repair.html
Feel free to ask if you have further queries.
Sussane