autos: loans и buying и finance

car buying info: checklist и costs и new / pre-owned? и how much to pay и best price и closing и loan or lease?

loans: fast cash и loans, credit cards и personal loans

credit cards: bad credit и good credit и business credit

credit card info: 0% intro rates

reports/info: reports, info и credit cards / reports и fix your credit score after bankruptcy

debt: consolidate bills

merchant accts: processing

home: all credit types и mortgages, debt consolidation и calculator и finance и home mortgages

etc: state finance

freq. asked questions: FAQ's 1 и FAQ's 2 и terms

How A Person Can Refurbish Their Credit Score After Bankruptcy
Financial Tips

fix credit score bankruptcy

Credit cards are becoming an essential part of every individual's life since they are continually running out of cash to meet household expenses and daily necessities. But when the credit card bills become unmanageable and dreadful, people incessantly fall into credit card debt. In such circumstances, debt stricken individuals either turn to a credit card consolidation or bankruptcy in order to come out of debt fast. Although both are viable ways to eliminate the debt, bankruptcy is considered to be a last resort as it ruins the credit report relatively more. However, fortunately, on the contrary to many people's belief, rebuilding credit is possible after bankruptcy. So let us here take a look at how to refurbish your credit score after bankruptcy.

1. Establish payment history:
This is one of the best ways to improve your credit score after bankruptcy. Pay your bills on time and establish a good payment history. Lenders typically want to see whether you have learned a lesson after filing for bankruptcy. So make payments on time and improve your credit score.

2. Take a look at your credit report:
After bankruptcy is complete, obtain your credit report from credit report bureau and see if your discharged debts have been reported correctly. Review the report scrupulously and check if there is any error on the report. If there is, dispute the errors with the bureau and ask to remove them immediately.

3. Obtain a new credit card:
Obtain a new credit card as this will help you improve your credit score. You may not qualify for an unsecured card, but can surely get a secured card. Secured credit card is a card that offers a cash deposit equal to the amount of credit. So whatever credit you get will have a low limit, which you can use anyway. Make all payments on time and start building your credit score.

4. Pay your bills in full each month:
Once you get a card, make sure you pay your bills in full each month. Paying bills in full will be reported on your credit report, which in turn will boost up your credit rating. It will also lead you to a faster credit increase.

5. Don't close your accounts:
Do not close the accounts that have already been paid. Closing the accounts will damage your credit score instead of doing any favor. First, it will abridge your credit history and second, it will erase positive items from the report.

6. Build cordial relation with lenders:
Building cordial relation with lenders sometimes help you get a new credit. So get in touch with your creditors, explain them why you have filed for bankruptcy, and how you plan to change your habits. Doing this can increase the chances of getting a new credit and rebuilding the credit score faster.

7. Keep a constant check on your credit report:
Keep a check on your credit report to determine if your new positive habits are showing any change on the credit report. Aside from this, you can also see how your habits are serving you rebuild the credit score.

8. Create a budget plan:
Making a budget is an important part of improving your credit score after bankruptcy. Before acquiring a loan or obtaining a credit card, ensure whether you will be able to make monthly payments. Make a monthly budget plan, including all your income and expenses, and determine if you have anything left to make payments after meeting daily expenses.

Thus, in conclusion, considering the above mentioned tips one can rebuild the credit score after bankruptcy.

Debt Control 101 bl.textbox.rt.top.gif (112 bytes)
v Debt Management Overview
v Good Debt & Bad Debt
v Fix Credit Score After Bankruptcy
v Getting a Debt Consolidation Loan With Bad Credit
Car Buying 101
v Overview Checklist
v Did You Calculate the Costs?
v New or Pre-owned?
v How Much Should You Pay?
v Get the Best Car Price
v Closing the Car Purchase

Other Topics
иииииииииииииииииииииииииииииииии
v Car Loan or Lease
v Where to Get Car Loans
bl.textbox.left.bot.gif (121 bytes) bl.textbox.rt.bot.gif (120 bytes)
[Partners]
Copyright Е 2001-,
Loans & Cards.com. Privacy, Legal Notice