Review your credit report
After 60 days of closing the bankruptcy case, request for your credit report. Check for any errors (inaccurate, outdated, incomplete or unverifiable information) which can be legally corrected or removed by the credit report agency. Write a brief statement to the agency explaining the reasons that led you to file for bankruptcy and what you’ve done to solve your financial problems. This explanatory statement (30- 50 words long) will always appear on your credit report unless you request for it to be removed.
Get a secured credit card
With a bankruptcy charge, it’s important to demonstrate that you are credit worthy. Get approved for a secured credit card. With this type of credit card, you are only allowed to spend what you’ve deposited in your account ahead of time. Make timely payments before any interest accrues so that the bank can forward a good account history to the reporting agency.
Choose a secured credit card from an issuer who reports to one of the three major credit reporting agencies to ensure it helps to
Most Americans wonder why they get denied when they submit their first credit application if they do not owe money to no financial institution. Would you be able to lend me ten thousand dollars without knowing me? No, right? That is why financial institutions have to use credit reports to evaluate customer’s credit behaviors.
Credit score is influenced by four factors: history of payments, length of accounts in good standing, inquiries, and types of accounts.
It is difficult to obtain history, length with accounts, or types of accounts when you do not have any kind of previous history. Most credit agencies will turn you down or denied your application because they do not know you. To start building a good credit score, you must establish a secured account. Some institutions call it “secure credit cards” or “secured loans.” Secure products will help you generate history with a credit institution with a low-cost and without risk of generating unnecessary debt. A secured account starts by initiating a savings account which will be
If you’re dedicated to saving money, you really can make a difference in the things you do every day. I’ve put together a list of 25 practical tips that my readers have personally sent in so that I can share them with others. They’re mums and dads, couples and singles, just like you, who have come up with some simple, yet effective everyday ways to save.
Make sure you read all the way to the bottom because there’s a real gem at the end.
- Google saves money. My husband’s Playstation3 was not working. First thought was to get it put in for repair. However a quick search of the internet for the error code that the machine was displaying and a solution was found, saving us $150 in technical service fees.
- I take a drink bottle to work and fill it up instead of buying drinks at lunch and also buy a loaf of bread, some cheese, salad etc at the start of the week and leave it in the fridge at work so I can always have whatever I feel like rather than going out to the store.
- I have undertaken some WEA courses including: home repairs,