What is the best way to improve credit rating after filing bankrupcy?

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What is the best way to improve credit rating after filing bankrupcy?
get a secured credit card
Reply:Keep paying your bills.





if you have a decent job for a decent ammount of time, get a mortguage, they are great because they dotn take much credit to get (you will pay alot of interest at first) and they help ur credit. when you have a decent job for a long time, get a mortguage, pay on it for a couple years, then refinance.
Reply:Go to your local bank or use the bank that you have a checking or saving account in. See if you can apply for the lowest limit of credit, may be $300. From that limit don't use $300 of it, just every month use maybe no more then $100 making sure you make the minimum payments on time or sooner. Another way is open a credit union account. You can unsually apply for a small personal loan after you've been in there credit union for 6 months to a year. They'll explain details. A credit union is always a good way to go.
Reply:Become a home owner [somehow -- inheritance, gift however]


Own property


Start a business, register for taxes etc with state and DO Business (more,


the better)


Get credit card -- borrow money off it and repay


Tank out loan -- repay [you should be able to take out COLLATERAL backed loans -- put up your money in savings acct etc -- but borrow theirs and use


yours as security]


Get hold of all 3 major credit reporting agencies and do ALL you can to correct ANY discrepancies they might have


KEEP the same employment/employer or your own business for several years


Pay all bills -- credit cards, utilities, etc -- ON TIME EVERY TIME for years!


Charge items regularly like gasoline and maintenance on car ; also groceries: PAY BEFORE DUE [this is GOOD use of credit cards and accounts
Reply:simple get a credit card with 0% int.
Reply:Many companies like to offer credit to people who have filed bankruptcy; I suppose because they know you can't file again for 7 or 13 years....depending on type of bankruptcy file. Accept their offers. Two or three credit cards would be fine. BE ABSOLUTELY SURE NOT TO ABUSE THEM because to start, the interest rate will be high, which means very little of the money you pay will go on the principle. So try to keep the spending low and pay more than the minimum payment required. It would be a good idea to spend and pay off each month, but credit companies don't really like that, so until you establish a trustworthy payment pattern, spend little and pay more. FRIVOLOUS SPENDING IS BAD i.e. restaurants, movies, boat rides etc. IT IS SO EASY TO MAKE THAT into A HABIT. Spend on useful and/or necessary items needed...





Whenever I know I am going to borrow or spend money, I ask customer service how much would I have to pay each month if I transfer balances, or borrow cash from atm machine with the credit card, or if I make a purchase with it. I set up an automatic payment to the credit card company from my bank account so that they receive a payment even before I receive a statement. That way, I'm always paying about a week in advance.





WHATEVER YOU DO... DON'T BE LATE WITH A PAYMENT. IF YOU ARE LATE, ALL OF THE OTHER CARDS INTEREST RATE MAY BE INCREASED; IF YOU ARE LATE ON ONE CARD, EVEN YOUR AUTO INSURANCE CAN GO UP, HOUSE INSURANCE, ETC. PLUS, LATE CHARGES ARE ASTRONOMICAL AND STILL CLIMBING!!! DON'T USE MORE THAN THE AMOUNT OF CREDIT EXTENDED TO YOU.





SOON, one or all of your credit cards will offer you a lower interest rate if you want to transfer balances from the other credit cards. BE EVER SO CAREFUL WITH THIS OFFER TOO. Usually they offer, for instance, 5.9% for life of loan, or 3.9% for 6 months or one year. I used the numbers 5.9 and 3.9 percentages; it may not necessarily be that; it could be 9.9 until paid in full, it could be 0.% for a limited amounted of time.





BEST HABIT TO GET INTO IS TO READ THE INSERTS AND THE FINE PRINT...they can and sometimes do change their policies and you can get a big penalty if you default on the changes.....whether you read it or not!





take care.
Reply:How to Improve Your Credit Rating After Bankruptcy: Bad credit and bankruptcy are the two most dreaded words in the financial world. These two things can greatly impact your financial situation. But what you are not aware of is the fact that you can improve your credit rating after bankruptcy. Your credit rating and bankruptcy
Reply:have a big bucks in your bank account/s. Showing that you have an account with almost sufficient fund to pay some debt will surely encourage the creditor to give you credits