Newbie Here

[Anassa613]

Well hello everyone,
I am scared i have no other choice but to claim bankrupsty. I want to know, how soon can i begin trying to get "good" credit and non secured cards etc. Any suggestions would be helpful.

[skyan]

Hello Anassa613, I am not sure, but I think you have to wait until after the discharge to begin getting new credit. But I noticed no one else had answered you yet, so I just wanted to say, Welcome.

[Minnymouth]

Hello and welcome to the "world of bankruptcy"...

You never stated whether you have "already filed??" or fixing too....

To answer your questions about "good credit"..... you can start rebuilding it right now.....by making all you present payments on time (mortgage,rent,utitlies,car, etc).

As far as "credit cards" in the future.... I wouldn't be hunting any till after my "discharge" date... approx 6 months after filing bankrtuptcy.

First credit card offers will usually have a high interest rate (your a risk), activation fees, monthly maintenance fees, and low credit levels ($2-$300.00).

Choose a new credit card wisely, use it monthly, pay it off monthly in full.... this will help build your score back up.

It will take time to rebuild your credit score back up, but usually within 2 years you can purchase a home again at a decent interest rate if you re-build your credit carefully. During this time there should be no non-payments, no partial payments, and no late payments made to anything.

When rebuilding your credit score you need to check your credit report often to make sure companies are reporting to the credit bureau on a regular basis.

Most of us, credit cards is what caused our problems, and using them wisely helps solve having another problem later.

There is life after bankruptcy - its just slow climbing the ladder......

Got questions - just ask...
Minny