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Summary: Establish good credit after bankruptcy by obtaining an accurate credit report, getting a secured credit card from your local credit union and by making credit payments on time. Rebuild good credit and settle all financial debts with information from a lawyer in this free video on bankruptcy.
Andy Forman, Attorney at Law, has been in bankruptcy representation for over two decades and has lead council in over 3,000 bankruptcy cases. Forman is a member of the Florida Bar and...read more
"Well you're thinking about filing bankruptcy and you want to know how to reestablish credit after a bankruptcy. My name is Andy Forman. I'm a business and consumer bankruptcy lawyer in Tampa, Florida, and I deal with these issues day in and day out. One of the fundamentals to rebuilding credit after a bankruptcy is to start out with an accurate credit report. Oftentimes when a bankruptcy is filed, the credit report is in a state of shambles with charge-off activity, lawsuits, past due amounts, and those items sometimes stay on there. It's incumbent on you, the debtor, after your bankruptcy filing, to correct the report. The next thing that you want to do, is any credit that did survive your bankruptcy, a car payment or a mortgage, you want to pay that on time. If you have late pay or slow pay after a bankruptcy, it's going to be the classic seven years before you have credit. You may want to go to your local credit union and see if they'll give you a secured credit card, or a...a car loan. Something that will establish new credit after your bankruptcy. In summary, what you want to do is make sure your credit report's accurate. Pay the existing credit, and pay the new credit timely. You'll be able to do it. My name is Andy Forman. Good luck rebuilding your credit."
eHow Article: How to Establish Credit After Bankruptcy
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