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Q.After bankruptcy how can I restore my credit?

A.A bankruptcy is treated as judgment and will be listed on your credit report for a period of 7 to 10 years. Although the decision of whether to extend you credit belongs to each particular lender, many lenders view a properly explained bankruptcy more favorably than a history of unpaid accounts. After bankruptcy, the best way to restore your credit, is to obtain new credit and make the payments religiously. Sometimes an existing creditor may continue to grant you credit based upon a reaffirmation agreement made during the bankruptcy. You may also be able to obtain a secured credit card, where the credit limit is based upon the amount of security given. Alternatively, you may obtain credit by using a co-signer.




Copyright 1999-2018 Melissa C. Marsh. All Rights Reserved. All Information on this website is subject to a Disclaimer and Use Agreement. This information is provided as general information only and should not be construed as legal advice. We advise you to seek the advice of competent legal counsel to address your own specific questions, facts and circumstances.