Have you declared bankruptcy? Are you worried about getting credit? Well, do not hit the panic button right away. Obtaining credit after bankruptcy is possible. In fact, it is important to restructure your credit record post bankruptcy since it is the way that creditors measure your creditworthiness. Bankruptcy delivers a heavy blow to your credit history and score. The score receives a major setback and it is important to improve the score to gain back the confidence of creditors. Bankruptcy more or less stays on your credit report for ten years; however, you can still qualify for loans and credits with good rates before the bankruptcy remark is removed.
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It's that time again; the phone is ringing again about that credit card you can’t pay, and you are stressing out. So, what do you know about credit scores and charge off debts? Is it the end of the world if you have a charge off?
Credit After Bankruptcy