Bankruptcy?

just wondering what happens when you go bankrupt like honustly. cause i got tould if you file for bankruptcy its 3years you cant apply for anything and it stays on your file for up to 7years. is it possible to repair your credit like no jokes or hoaxes. i looked online but they all full of **** and i just wondered if anyone knows if you can repair or fix your credit rating. i always get knocked back when i apply for a loan or credit card or even a phone. and i wanted to know what i have to do to get everything back on top again even if i have to pay more interest or whatever. anyway possible or do i have to wait 3-7years before i can get a credit card, loan, or house loan. there must be a way, anyone?, also is it really 7 years or is it longer or does it still stay on file. whats the deal. anyone know

Bankruptcy?

You can ALWAYS re-build your credit regardless of what has happened. It%26#039;s just a matter of how long and how difficult it is. If you haven%26#039;t filed yet, do whatever you can to work out your debts -- i.e. see if credit cards will accept lower payments and reduce your interest, etc. They can be difficult to deal with also and try to make you feel guilty, etc. But if you push it enough that you simply can%26#039;t pay your current payments, they will eventually try to work with you rather than have you file bankruptcy and lose all of it. In the end, they want their money, and of course, do have every right to it.

Keep in mind that late payments remain on your credit report also. i.e. even if you haven%26#039;t filed bankruptcy yet, damage is most certainly already done.

After this point, you need to try to get your act together with your finances and learn to budget your money. A good start is getting a secured credit card, where a deposit has to be made and you%26#039;ll have a very low credit limit. Use the card. Sounds weird, but it won%26#039;t help your credit much if you don%26#039;t use it. But you have to do so responsibly. A good place to start is to just charge one thing each month, like say a gas purchase, and then pay that off. Make sure you KNOW you can pay it off each month. Also be sure to pay utilities and such on time. Part of your credit report/score consists of how many months you%26#039;ve consistantly made payments on time.

You might have trouble doing other things for a while until your score improves, but eventually you%26#039;ll be able to get an unsecured card, loans, etc. And then you have to make sure you stay on track and keep your credit clean.

Bankruptcy?

did you file for bankruptcy? If so...then not much you can do now. You have to wait those years...

if you haven%26#039;t then DON%26#039;T! It%26#039;s not good. Get your credit up by paying off all your debt. Then be sure to keep one or two credit cards and / or loans to build your credit again. You need credit to build credit... which means having zero debt/credit cards etc is just as bad as having HUGE debt..

get what I am sayin%26#039;?

Once you pay off yoru debt, use a credit card to buy groceries or gas monthly and pay it off immediately when you get hte bill.

Bankruptcy?

Think about it! You%26#039;ve screwed everyone who has loaned you money or given you credit. Would you extend more credit to a person like yourself? You have to change your ways and prove you are a good risk.

Start calling banks and ask if you can get a prepaid credit card. That%26#039;s where you deposit cash and as you charge things that money is drawn down. Stay within those limits and in a few months the bank may give your a regular credit card. Then you can begin building your credit score.

Bankruptcy?

I filed bankruptcy a couple of years ago and was able to get new credit cards right away. I have since started to rebuild my credit and just bought a house - I was able to qualify for a mortgage even though it has been less than 2 years since my bankruptcy was discharged. My credit is decent now, but yes, it still shows the bankruptcy and I believe it will stay on my record for 7 years. But really, the big picture is that even though I have a bankruptcy on my record, my credit is still decent and it does not haunt me or prohibit me from doing what I want to do credit-wise.

Bankruptcy?

Obtain a copy of all three creit reports and look closely at all of them. You can raise your score if you find anything on them that you feel is not yours or are duplicated.

www.experian.com

www.equifax.com

www.transunion.com

Experian will let you do ten at a time and other two 5 only.

Bankruptcy?

It may depend on what country you live in as to how long until you get discharged from bankruptcy. But here in Australia it is 7 years.

Declaring bankruptcy is a decision that has a lot of consequences so is a decision that shouldnot be taken lighlty. Have a read of the following articles...

Bankruptcy

http://www.cashdoctors.com.au/payday-loa...

Debt consolidation...

http://www.cashdoctors.com.au/payday-loa...

http://www.cashdoctors.com.au/payday-loa...

It is also a good idea to start using a debit card, so when the time comes where you need to pay for things when cash or bank cards are not an option you still have the opportunity to pay, but you are still using your own money instead of credit.