How do I start rebuilding my credit after I already have a bankruptcy and foreclosure?
Question:
Answer:
Check out http://www.lifeafterbankruptcy.com...
This site contains lots of info specifically for people in your situation. Lots of great educational stuff.
It's tough, but you just need to keep getting good credit reports. Use your credit card and pay off the balance each month, pay your mortage/car payments on time, pay your rent and utilities on time, etc.
Anytime you use your credit and you pay successfully they bank or whoever SHOULD send a report to the credit unions saying you are cool, and you should get points.
You can start by making sure that you pay all of your current bills on time. I would also consider getting a secured credit card which is a credit card backed by a savings acct.
Good luck!!
head for the plastic but get one where you pay first and can keep refilling.
Get a credit card even if it's a secured one. Then use it for every day purchases like gas and groceries. Be sure never to exceed 40% of your limit in any given month and pay it off before the due date in full.
Do this for 8-10 months and your score will go up to the point that you should be able to get a regular credit card and then do the same thing with that one.
After about 24-months your good pay history will raise your score substantially.
Re-establish your credit and pay on time!
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