Bankruptcy pittsfield ma
I am often questioned about credit repair finishing bankruptcy. Credit reports are not a bankruptcy law issue; it is a personal finance issue. It is no secret that bankruptcy causes havoc on your credit report . Based on bankruptcy and credit reporting rules , bankruptcy can be reported on your credit report for up to 10 years. In the meantime, you'll find it difficult to get approval for new credit cards and loans. You don't have to wait the full 10 years to start getting credit again, and you shouldn't, since there are techniques to repair your credit after bankruptcy. If you are interested to know more, check out Bankruptcy pittsfield ma. Credit reporting rules allows accurate data to be reported on your credit report, so trying to delete a legitimate bankruptcy from your credit report early will be a waste. You should, however, see your credit report to be sure your bankruptcy is reported correctly . Accounts that were discharged in bankruptcy should show a $0 balance and bankruptcy status. Or, it appears you have outstanding delinquent debt. If a discharged account isn't reported accurately, you can dispute it with the reporting agency. after , you should look for new credit within a year or two after your bankruptcy discharge. don't bother with regular credit cards at all because you'll probably be rejected. Instead, try to get for a secured credit card which is a type of credit card that requires you to make a payment against the credit limit before you can be qualified . The security deposit is the credit card company guarantee that you won't not pay on the balance. The creditor can take your security deposit if you default or file bankruptcy. But, if you use your credit card responsibly and make all your payments on time for several months, you can get your deposit back. Try not to make the mistakes that led you to bankruptcy. Keep your balance minimual, ideally below 30% of your credit limit, and pay it off before the due date every month. Doing this begins to re-establish a positive payment history on your credit report. A history of timely payments will improve your credit - payment history is 35% of your FICO score. Staying out of debt will also help since your level of debt is 30% of your FICO score. For more info, visit this site.