Rebuilding Credit History

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Rebuilding Credit History
« on: January 13, 2010, 02:09:59 PM »
Is it good enough from creditor's stand point and to start rebuilding a credit, when credit record after bankruptcy shows: bad debt included in bankruptcy?

Thanks for any input.



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Re: Rebuilding Credit History
« Reply #1 on: January 13, 2010, 10:46:23 PM »
Hi Lavender,

While the record of your bankruptcy and the accounts that were included in it will remain on your credit record for years, you can still quite effectively rebuild your credit. With care, you can qualify for something like a decent mortgage in two years or so. The reason this works is that the current history that you are building will count more than the past history of your bankruptcy. The more months you have perfect payments on your new accounts, the better your credit score will become.

A secured credit card or two is a good place to start. You can begin as soon as you are discharged.

Best wishes,


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