Chapter 7 bankruptcy

[Monica R]

We filed ch7 bankruptcy 2 years ago and I'm worried about what the impact is for my kids' college loans. I know they aren't held liable but what are my chances of getting a loan for them. The oldest needs about 5 years before going to college but I want to know what I can do now to re-establish credit or are my chances shot? What about refinancing a home?

[FEFE917]

Chapter 7 isn't as bad as it once was. As long as you keep your current credit paid well, you'll have no problems 5 years from now.

[Brandon J]

I would start now with re-building your credit...Credit card companys will be quick to give you secured credit,and if you have a home, YES re-finance.It will show that the motgage company has faith in you and gets the most point on a credit report.If you go the credit card route, you will get the most points for paying off every month,just be carefull !!! After that go for a small personal loan at your local bank, where you bank.Just make shur you have a good history with your bank,like no overdrafts or bad checks.Hope this helps?