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How to Repair Your Credit After a Bankruptcy [PART 1]

10.24.07 | No Comments

Bankruptcy is one of those taboo terms no one really wants to discuss or think about, but when bankruptcy affects you or your life, knowing how to bounce back is vital. In 2007, almost 1-million people filed for bankruptcy. If you filed bankruptcy, you are definitely not alone.

Repairing your credit is not easy, but with time and patience, you can rebuild your credit. If you recently filed for bankruptcy, you will find that all of a sudden creditors absolutely love you! Those credit card offers will fill your mailbox, and the worse thing you can do is accept all of those credit card offers.

Credit card companies know that you can only file bankruptcy once every 10-years – give or take 3-years depending on the district and type of bankruptcy filed for. That means if you accept those new credit card offers, usually at extremely high interest rates and with enormous annual fees, you are stuck with that debt.

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