I want to start rebuilding my credit as soon as possible. I have seen lots of people post on here that they have 1-3 years on their jobs and were able to get credit. Do companies take into consideration a strong work history, even if the FICO is in the 500's (highest of the 3 is 578)? I have over 20 years with the same company and make a decent salary.
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Coming out of bankruptcy many things play a role in your credit status..... Even though you may have a low FICO score, companies also look at other things besides your credit report (especially right out of bankruptcy).
They look at the following also:
1. Work record - years on the job
2. Income - available cash.
3. Present credit you owe.... (none right now, lol)
4. Credit payment history in the past (closed accounts,
late payments, etc)
5. Property owner - creditors can always take a lien
against your property if you don't pay them.
6. Reason for bankruptcy - cc debt? medical bills? job
loss?
7. Willingness to insure a loan?
Lots of factors come into play after you have filed bankruptcy.
Really your a better "risk" after bankruptcy then before!!! And companies know that you can't file BK again for 7-10 years.Minny
"It's amazing the paths that our feet sometimes follow in life".
My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different. -
Job history is more important for things like auto loans and mortgage. For unsecured credit, its not likely to have much impact if any.Comment
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