Home     About Us    Contact Us     Contribute     Privacy
Investing
Stocks
Bonds
Mutual Funds
Biz
Credit
Career
College
Economics
Tax
More
 
 
Marketplace
Related Articles
Related Definitions
Related Categories
Tip of the Day

Tip of the Day Borrow No More Than 30% of Your Available Credit

Borrow No More Than 30% of Your Available Credit - You should borrow no more than 30% of your available credit each month if you wish to keep your credit...

read entire tip

Related Podcasts
Recently Added
Other Great Sites
 

Bankruptcy Credit Report

With the sinking economy and increasing job losses, this year looks to be another record breaker in bankruptcy filings. According to the U.S. Court system, there were about 13% more filings in 2007 and the percentages have only gotten more dismal. If you happen to find yourself among the numerous Americans that need to file bankruptcy in order to get out from under enormous debt, it will not be as detrimental as you may think.

Sometimes it becomes necessary to file bankruptcy and it really isn't the worst thing to happen to an individual. It may be the only way out of a bad situation for some people. However, you should be aware of the fact that your credit will be affected. After a bankruptcy, credit report scores will be a bit lower and credit will be a little more difficult to obtain. Your credit report will continue to reflect negative items for up to ten years. Even though some of the items were included in your bankruptcy, credit report listings will reflect the accounts that have been taken care of in the filing. Credit card issuers will take this into consideration when making a credit decision. It is still not the end of your financial future though because there are avenues available to people that have had to file bankruptcy.

Rebuilding your credit standing after a bankruptcy takes diligent effort and can be achieved. It will not happen over night though, but it definitely will be well worth your time in the long run. There are many credit card issuers that will extend credit to consumers after bankruptcy filing, however, they may not all have honorable motives. In fact, many credit card offers will cost an extensive amount more for those bankruptcy filers than someone without a bankruptcy credit report.

Although you cannot immediately repair the bankruptcy credit report, you can do many things to improve your credit situation. Secured credit cards are an excellent option for repairing your credit situation because they are sort of like a debit card and are funded by your own money. Some are better than others, so do your research and make wise decisions.

Discuss It!

http://emoji-quiz.org/en/113-level-answers said:

Frankly, I have starting now advantage by your dialog on peril versus return.

http://richestnetworth.org/max-kellerman-net-worth/ said:

wow, great, I was wondering how to cure acne naturally. and found your site by google, learned a lot, now i’m a bit clear. I’ve bookmark your site and also add rss. keep us updated.

safari for pc said:

Experience the web, Apple style, with Safari .

Most Popular Articles
Most Popular Definitions
 
Daily Definition

Definition of the Day Enhanced Index Fund

Enhanced Index Fund - an enhanced index fund is strategy term employed to outperform traditional indexing. The fund is aimed at an index (an indicator, representing the value of a security) but the fund is also attempting to boost returns by staying clear of the index in order to...

read entire definition

 
 

 

 

Home     About Us    Contact Us     Contribute     Sitemap

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Copyright © 2009 TeenAnalyst.com