You will be discharged from the bankruptcy after one year but poor credit will affect your financial status for years. Bankruptcy details will remain on financial details of your bank for coming six years after declaring bankruptcy. Bankruptcy details can ruin your credit history badly and it is important to improve credit. Low credit score can prevent you from loans, mortgages or credit cards.
However, it will take time to meet with normal credit rating after bankruptcy. But during bad credit period, you will be offered high interest charges on loans and mortgages by the lenders. However, there are several measures that can help to rebuild credit score. At first, you should receive information on Equifax, Call Credit and Experian credit report. Be ensure that it is correct and in case of incorrect information available contact the related department to make it correct.
One efficient tool to rebuild credit score is prepaid credit card. It doesn’t require any credit check and monthly fee paid on it will be treated as loan. Each monthly payment that you pay will help to improve your credit score.
You should also avoid cosigners for new credit because it is not good to create strong relation with lenders. You should use cash to make payments. If you have credit account that you are not using then close it. Use only few credit cards and make sure to manage that efficiently. Bankruptcy will not clear all your debts so examine your financial obligations and try to clear it as early as possible to make good credit rating.
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"Do you seek funds to pay off credits and debts? Do you find yourself in a bit of trouble with unpaid bills and don’t know which way to go or where to turn? What about finding a reputable Debt Consolidation firm that can assist you in reducing monthly installment so that you will have affordable repayment options as well as room to breathe when it comes to the end of the month and bills need to get paid? Wesley Loan Company is the answer. Email (wesleyloancompany@yahoo.com)
ReplyDeleteWe offer the following types of loans
*Debt Consolidation Loans
*Business Loans
*Personal Loans
*Home Loans
*Car Finance
*Commercial Loans
*Investments Loans
*E.T.C
Note: We give you loan with a low interest rate of 2% and loan duration of 1 to 20 years to pay back the loan (secure and insecure). Do not keep your financial problems to yourself in order for you not to be debt master or financial stress up, which is why you must contact us quickly for a solution to your financial problems. It will be a great joy to us when you are financially stable. Email {wesleyloancompany@yahoo.com}"