HOW LONG BEFORE I can reestablish my credit?
June 21, 2009 by Credit Repair Tips and Advice
Filed under More Credit Repair Answers
Can you answer smom’s question about Credit Repair?:
How long before I can reestablish my credit after I file for bankruptcy I want to buy a house in the next year or two. I am in school right now to be a RN. I am currently looking for work.
Line Of Credit Bad Credit
How long before I can reestablish my credit after I file for bankruptcy I want to buy a house in the next year or two. I am in school right now to be a RN. I am currently looking for work.
Line Of Credit Bad Credit
Credit Repair Feedback: It takes time. I have heard people buy in 2 yrs. But definatley keep everything pd on time! Keep it up and you will be back in no time. It can stick around for up to 10 yrs once you file, but you can build back up pretty quick.
Credit Repair Feedback: The impact of bankruptcy on your credit score lessens after two years. You can start rebuilding your credit history as soon as you are able to afford to do so though. After you find gainful employment to re-establish your credit try to do these things:
To re-establish credit history, talk to your banker and say you want to re-establish your credit rating.
Open a savings account.
Be a regular and persistent saver.
Take out a small loan using the savings account as collateral, and then pay it back. This will do wonders for establishing history.
Apply for a secured credit card. Using a secured credit card is a quick way to build your credit rating. Pay your credit card balances on time.
After a few months (8-12) of having the secured credit card, apply for an unsecured card…secured cards are meant to be used short term.
Credit Repair Feedback: 2 years after the bankruptcy was discharged. You currently have no job, are in school and need to focus on completing your RN. Jobs will be easy for RNs are in constant demand.