Posted on: 13th Feb, 2013 01:11 am
I have filed bankruptcy and even received a discharged from it. How can I rebuild my credit after bankruptcy so that I can quickly qualify for a mortgage?
Hi Vantage,
It is very important to rebuild your credit after bankruptcy or later on things can become difficult for you. After a bankruptcy discharge, you will have to wait for 2-4 years depending upon the type if bankruptcy you filed, before you can get qualified for any kind of loan. You can use this time period to improve your scores. You can take out secured credit cards and use them properly. This helps a lot in improving scores. Apart from this, you should make sure that you pay all your debts on time so that there are no late payments or partial payments mentioned on your scores. These steps will help you improve your scores.
Take care.
It is very important to rebuild your credit after bankruptcy or later on things can become difficult for you. After a bankruptcy discharge, you will have to wait for 2-4 years depending upon the type if bankruptcy you filed, before you can get qualified for any kind of loan. You can use this time period to improve your scores. You can take out secured credit cards and use them properly. This helps a lot in improving scores. Apart from this, you should make sure that you pay all your debts on time so that there are no late payments or partial payments mentioned on your scores. These steps will help you improve your scores.
Take care.
Hi Vantage!
Welcome to forums!
You can even check out the given page in order to know some steps to improve your credit after bankruptcy discharge: http://www.mortgagefit.com/credit-rating/credit-repair.html
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You can even check out the given page in order to know some steps to improve your credit after bankruptcy discharge: http://www.mortgagefit.com/credit-rating/credit-repair.html
Feel free to ask if you've further queries.
Sussane
Discipline is the key in improving your credit situation. You have to behave rationally and responsibly to improve your financial situation.
get a secured visa..... avoid those with high annual fees. you might want to get two. try your local bank. wells fargo, ect do this
do you have a paid asset? like a car?
go to a large credit union and see if they will loan you $1500 or so against the title of the car.
pay off over 12 months.
preferably 24 months.... but i would like you to borrow more. so the payment is over $100 per month.
the interest you pay will be the cost of buying good credit again.
do you have a paid asset? like a car?
go to a large credit union and see if they will loan you $1500 or so against the title of the car.
pay off over 12 months.
preferably 24 months.... but i would like you to borrow more. so the payment is over $100 per month.
the interest you pay will be the cost of buying good credit again.
Thanks for sharing your opinion, Tom! It's great to see you back after a long time!! :)