BNCC Central: Credit Advice

Credit After Bankruptcy

By Ed Nailor

So you ran across some hard times. Maybe a loss of job, maybe sickness in the family. Or better yet, you were just foolish with your finances and ended up way over your head! (That's what I did!)

Bankruptcy happens to the best of us. The great news is that bankruptcy is no longer the end of the world! You can rebuild your credit rating in no time if you want to!

A couple suggestions:

- Change your habits! Most likely your over loaded yourself with debt. Even if you didn't, check your habits and see if you need to make new ones.

- Update all items on your credit report that were included in the bankruptcy. This prevents items from constantly hitting your score.

- Get a secured credit card. (Might actually be able to get an unsecured card!)

- Use your savings to create a secured loan. This is a no brainer! Credit without real debt!

- Think about asking if someone will make you an authorized user on their good credit. A parent, friend or even your spouse might be willing to help.

With these quick tips, you will find yourself with great credit in a short period of time. Best of luck in your new financial future!

 

This article was added to BNCC February 2006 courtesy of EzineArticles.com.
Due to the nature of credit card offers and programs, anyone interested in applying for this or any card should be sure to review the card issuer's terms prior to application. About the author.

PLEASE NOTE: While no credit card in itself can guarantee to fix, establish or repair your credit, experts agree that using credit cards effectively can go a long way towards improving bad, damaged and poor credit. The endorsement of any credit cards found on this site does not imply that these cards will fix the problem. We highly recommend that folks with credit issues work diligently to understand how credit works and take the steps needed to correct bad habits as required to obtain the results desired. See our article on the Effective Use of Your Credit Card.

The information, material, and suggestions found throughout BestNewCreditCards.com is intended to provide an informative and educational service. Cards offered through this service are offered by the card issuer and not by BNCC.

By using this site you agree to our terms of service and privacy policy.