Today we will be talking about the known Facts about Credit after Bankruptcy. Bankruptcy is a terrible thing and it leave a colossal blemish on your credit report for a minimum of seven years. In some cases there remains a black mark that remains up to a decade. To top things up the credit cases still have the US and a vice script and more families than ever had to file for the Bankruptcy protection.
If you are being forced to file then it is important to understand what happens to your credit worthiness after you are observed of your debt load. Believe it or not you are still going to receive your credit card offers again. This is especially true if you opt for chapter seven. But the catch is you can file for chapter seven once in your life meaning any new debt will stay with you for a long halt. The credit card companies will rein for new charges your rack up and they are banking on your bad behavior to continue for life. Your credit score will start to improve, you may have a student loan and you may don’t know that you are kept out of the proceedings or new secured credit card when your case was dismissed.
The goal is to maintain a track record of on time payment starting the second on your bankruptcy is on record. AS long as your payments are on and stay within an initiative any credit enquiries. You should see a dramatic boost in your score in as little after months after filing.
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