How can you rebuild your credit after a chapter 7 Bankruptcy?
Aug 30, 2010
in
Chapter 7
I filed Chapter 7, it was discharged in March. I want to purchase a home, but I want to know what can I do to ensure a good rate.
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7 comments
Sonja S on August 30, 2010 at 2:14 pm
First, you can go to the bank and apply for a secure credit card. Once you have done that, you use it to only pay bills, food, etc. You put the money aside you would have used to pay your bills, then, pay the credit card off before any interest has a chance to accumulate. Once you have paid that one off several times, close the card and use the money (security from the last card) to open another secure account. Repeat until you start receiving offers in the mail for the lowest interest rate. Once you receive the offers from the other card company, you can start doing the same thing with those cards.
e_hero_yuki on August 30, 2010 at 2:14 pm
try talkin to a lawyer
cheergurly1992 on August 30, 2010 at 2:14 pm
well you odn’t need to buy things you don’t need and you need to cut down on everything and that means your computer so you must not be to worried about you life if you are on the computer!
Calvin the Bold on August 30, 2010 at 2:14 pm
I don’t think you can under ordinary condition. You can negotiate directly with the seller and have a owner finance which is often better because the term can be a lot more flexible.
Badger on August 30, 2010 at 2:14 pm
Suze Ormann recommends all these little things, like taking out secured loans (loans with cash behind them – like borrowing against your savings account). Apparently every time you get a new credit account and pay it in full, it works in your favor.
creativereading on August 30, 2010 at 2:14 pm
You can try to get a HUD loan.
jon g on August 30, 2010 at 2:14 pm
what is your credit score now?