| If you've recently been through bankruptcy you may | | | | something you can not afford to put it on a credit card. |
| be at a loss as to what your next step should be. | | | | If you don't have the money today you won't have it |
| Many Americans are under the belief that you just | | | | next week. |
| wait out your ten years and then slowly start from | | | | You also need to have any negative items removed |
| scratch all over again. This couldn't be farther from the | | | | from your credit report. After a bankruptcy your credit |
| truth. There are things you can begin doing the day | | | | is typically full of mistakes. Things that should have |
| after bankruptcy to begin rebuilding your credit and | | | | been removed and included in the bankruptcy are not. |
| getting your life back on track. | | | | You'll probably have many collections reporting also. |
| The first thing you should do is apply for a secured | | | | These are all things that need to be straightened out. |
| credit card with a large bank. A secured card works | | | | There are great, safe and legal credit repair |
| differently than regular credit cards. Upon applying you | | | | companies that can help you. |
| give the lender about $500. As you make purchases | | | | It is also important to continually review your credit |
| the money you take out must be replaced every | | | | report. You need to make sure that things are |
| month. Be sure to get your secured card with a bank | | | | reporting correctly and make sure you are still on the |
| that reports to all three credit bureaus. | | | | right path. Items that can not be discharged in |
| After about six months of making payments on time | | | | bankruptcy like student loans, taxes, and child support |
| you can apply for a regular credit card. Be aware, you | | | | all need to be paid on time. |
| may not receive the best interest rate or limit. But, this | | | | Your credit may not be completely restored overnight, |
| card is not for making large purchases. After going | | | | but with a little perseverance you can cut years out of |
| through bankruptcy you've learned not to carry a large | | | | the process. Don't become frustrated. Be patient and |
| balance on credit cards. Make small purchases, like | | | | learn how to use your credit report as a guide to a |
| gas and groceries, and pay it off at the end of each | | | | stable financial future. |
| month. If you can not afford to pay cash for | | | | |