Repairing credit after bankruptcy

[indebtuptoherears]

If you file bankruptcy, how can you ever repair he damage done to your credit? I am unemployed, 50 yrs. of age, no money in the bank, no savings, no retirement, no job. How can I save myself from this mess?

[zesty]

don't declare bankruptcy at that age! try to work some deal with the creditors, go some not for profit credit managing companies to help uand why r u 50 and not have a job? someone like u should be juggling 3 jobs during 24 hours, ANYTHING!

[Rosesharon]

Get a job, first. Pay your bills on time. In about 2 years you will start getting offers from credit card companies and people wanting to finance your car. Work two jobs if you can and save whatever you can for retirement. It'll work out.

[Mandy43110]

first of all try to find a job. my husband and I filed 3 years ago and we just bought a new house and a car within 6 months (the car was not by choice). But your first step should be finding a job.

[epelham54]

I would suggest you buy these programs. They have helped me and my daughter filed bankruptcy and they helped her bring up her credit score in just a few months. They are a little pricey for some but they have helped me so much the cost doesnt matter. go to coming back strong financially dot com. see if they wont help you.

[AlaskanLady49]

I filled bankruptcy back in 1990 because of medical depts due to my husband (now x) and firt bankruptcy only showes up on your credit history for 7 years also my attorney told me to go to a bank and ask for a small lone after 3 payments pay it off and ask for a bigger one keep repeating this prosses to optain credit but leave the money in a account in the bank sat aside for just this purpose.Also make small payments to the bills even if its only 10$ a month because if you are making a atemped to pay them they can not turn it over to a collection agent.Good luck!!!

[Evil Spoon]

It is certainly rough, especially at your age. The secret to reparing your credit is budgetting and time. It will take 7-10 years for the bankruptcy to come off of your credit report. Finding a job is pretty much a must, too. You do not say here why you are unemployed, but remedying that situation is the first step toward fixing your credit. Other things you can do are:1. Get a copy of your credit report and make sure there are no errors on it that will make it worse. Errors DO happen. You can legally get your credit report for free online, once a year. 2. Repay your debts (which means getting a job), starting with the high interest ones. If you have no debts, then you're on the road to better credit already! Hopefully your bankruptcy already covered this part. 3. Contact a non-profit credit counseling organization if you have debt problems still. Do NOT contact debt-consolidation loan organizations or places that claim they can fix your credit for a fee. They are scams.4. Live according to your means. Set a budget and stick to it.5. Don't go into debt again. Cut up your high-rate credit cards. Do not get another unless you are DEBT FREE. If you are, then go ahead and get a small one and use it wisely, perferably only when you ALREADY have the money to pay it back. This will build up good credit for you. Use it, then pay it off right away. If you do not have money in the bank for something, don't buy it. 6. Pay all your bills and rents promptly. Do not be late!There is a book out called "How to Fix Your Credit" that might be useful to you. It is on Amazon.com and Walmart.com for really cheap, too. That said, none of this will do you a lick of good if you have no income. Find a job! If you are handicapped or have some kind of obstacle, find a way to overcome it. There has to be SOMETHING that you can do. You'll never fix your credit if you are not bringing in an income. This is a must. Go to a temp-agency. Apply at local grocery stores or restaurants. Whatever you have to do, work! Good luck!

[Keith B]

Okay, I'm no expert but here is my story. My wife lost her job and we had a ton of bills. We went to one of the credit management places like you see on TV. The lady assured us that we were doing the right thing by not filling bankruptcy and that credit management would not have a negative impact on our credit...WRONG!!! I find out latter that being under credit management is worse than bankruptcy. I could not buy a car, get a credit card or anything else related to credit. I filled bankruptcy, walked away from thousands in unsecured debt and was able to purchase a new car and a new home within a year. It has been almost 7 years now and my credit is almost perfect. This is just my experience. Do your homework before taking such a drastic measure.

[biskio]

You have a chance to improve your credit rating and therefore brighten up your financial future by being patient, a conscious effort, and a personal debt repayment to improve your credit report. The most practical and effective way to truly improve credit is through a number of practical steps designed to help you not only improve your credit rating but also to maintain a decent credit rating once it has improved. No matter how bad your credit is, taking following steps will make it better.STEP 1: Dispute Inaccurate Information or Frauds in Your Credit Report STEP 2: Pay all of your bills on timeSTEP 3: Reduce the number of credit cards you carrySTEP 4: Avoid bankruptcies, tax liens and collectionsSTEP 5: Request for Lower Credit LimitsSTEP 6: Get a Small Loan or Credit Card with Co-SignerSTEP 7: Get a Secured Credit CardSTEP 8: Periodically Get a Copy of Your Credit Report.