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Tag Archives: bankruptcy
Credit Report Errors
Your good credit can be used to determine your eligibility for everything from a loan to getting a new job. The credit report itself contains information such as your current and previous addresses, if you pay your bills in a timely manner, and even whether you have ever been sued or arrested, or filed for bankruptcy. That information is then gathered by three major reporting agencies, Experian, Equifax and TransUnion, and sold to potential employers, banks and financial institutions, who use it to determine whether or not to give you a loan or rent you a home. The Fair Credit Reporting Act seeks accuracy and privacy when it comes to information and credit, and you should frequently review your credit report to check for inaccuracies.
Posted in Credit Report Also tagged credit report errors, Equifax, Experian, identity theft, TransUnion Leave a comment
Is Bankruptcy Worse Than Foreclosure for Your Credit Score?
It is a tough question to have to ask, but it is something that is coming up more and more these days: Is bankruptcy worse than foreclosure for your credit score? In today’s terrifying financial environment, a lot of people have to choose gas money and groceries over making their mortgage payments. And it’s not just mortgages; millions of Americans are in debt with credit card balances that they cannot hope to ever repay within their lifetimes.
Posted in Credit Scores Also tagged credit score, Foreclosure, tips for improving credit score Leave a comment
Credit Repair After Bankruptcy
Once you've filed for bankruptcy, you might think that your credit is ruined forever. The good news is that's simply not true. Bankruptcy only remains on your credit report for 10 years, and during that time there are a lot of things that you can do to help improve your credit score. Even with a bankruptcy on your credit, after a few years (often three) you can qualify for a mortgage. You can also generally get a car sooner than that, and start qualifying for credit cards again. Some companies start sending out pre-approved, secured credit cards offers to people almost as soon as the ink is dry on the bankruptcy discharge papers.
Posted in credit repair Also tagged bill payment, credit cards, credit repair, credit score, personal loans Leave a comment
Credit After Bankruptcy