How long after completing a bankruptcy should I be able to apply for new credit?
itsnotfun13 asked:
I need to rebuild my credit after the bankruptcy is discharged. How long after its discharged should I be able to apply for something and hopefully get approved?
Fun and games
I need to rebuild my credit after the bankruptcy is discharged. How long after its discharged should I be able to apply for something and hopefully get approved?
Fun and games
March 29, 2009
11:00 am
If you reaffirmed any secured creditors, you are already rebuilding your credit. (Reaffirmed means that you signed an agreement with the creditor and filed with the court that you will pay for and keep the security usually according to the original terms of the loan.) Otherwise, most people are offered new credit within a matter of months. With the current economic climate, credit is supposed to be tightening, but creditors like Capital One, Juniper Bank and Orchard Bank still offer rebuilding type credit cards. Other decent options include car loans and secured credit cards.
But always remember to use credit sparingly, as it was credit that caused you to file bankruptcy in the first place.
P.S. – Sorry, forgot to tell you great post!
March 30, 2009
3:51 pm
At least 3 years
April 2, 2009
11:39 am
7 to 10 years is how long it will stay on your credit report.
April 4, 2009
4:32 am
If you want to start rebuilding your credit, look for a secured credit card. It’ll be reported like a regular one, but you put the money on it that’ll be used, sorta like a debit card but this one helps your credit.
With the credit crunch that is going on currently, you won’t be able to apply for at least 3-7 years.
April 4, 2009
11:30 am
If you reaffirmed any secured creditors, you are already rebuilding your credit. (Reaffirmed means that you signed an agreement with the creditor and filed with the court that you will pay for and keep the security usually according to the original terms of the loan.) Otherwise, most people are offered new credit within a matter of months. With the current economic climate, credit is supposed to be tightening, but creditors like Capital One, Juniper Bank and Orchard Bank still offer rebuilding type credit cards. Other decent options include car loans and secured credit cards.
But always remember to use credit sparingly, as it was credit that caused you to file bankruptcy in the first place.