Rebuilding Your Credit after BankruptcyWashington State Bankruptcy LawyerThere are plenty of urban myths about rebuilding your credit and getting on with your life after a bankruptcy. The hardest part of filing bankruptcy is not going to court or filling out the paperwork… It's not knowing what comes next. At Sno-Isle Bankruptcy and as part of my services, I offer my clients an in-depth program for rebuilding their credit. In general terms, this process takes time and common sense, but my program includes specific advice and timelines, as well as form letters you will need to use as tools in rebuilding your good credit. Working with the three major credit-reporting bureaus, Equifax, TransUnion, and Experien, is important. We can provide you with the advice and information you need to start repairing your credit scores with each of them. We also advise our clients to take advantage of the once-a-year, free, no-hassle credit report they are entitled to. Contact us today and discover more about what we can help you to accomplish. If you follow my credit-rebuilding program, you should be able to recover credit along the following general timeline:0 - Six Months from End of Case: During the first six months after the case is completed, you should be starting to receive pre-approved credit card offers in the mail. These offers are for low balance, high fee, high interest rate starter accounts. They tend not to be advantageous to the borrower in most cases. In addition, if need be, a debtor can get a high interest rate (20% +) car loan from certain dealerships (I can provide a list). Six Months - Eighteen Months from End of Case:This is the period of time when the most rebuilding of credit occurs. In order to rebuild your credit, you will need to follow my program. As time progresses, the credit card offers you get will be for better terms, and you can start looking for decent interest rate car loans (7-10%). In addition, department store cards, gas cards, and car leases will become available to you. By the end of eighteen months, your consumer credit should be equal to the average person on the street. The other additional benefit you will start to get during the twelve to eighteen month period is the ability to get a home mortgage. If you qualify for VA benefits, you can get a normal term mortgage twelve months after the completion of your case. If you are looking at a regular mortgage, you can apply around the eighteen-month mark, although you will face high interest rates and a need for a large down payment (10% down). Eighteen Months - Thirty Six Months: This is the period when most debtors get mortgages. Around the thirty-month mark, you will qualify for a regular mortgage at decent terms. At the thirty-six month mark, you can usually qualify for a stated mortgage or even a Fannie Mae Mortgage. Questions about rebuilding your credit? Need help dealing with the Equifax, TransUnion, or Experien credit bureaus? When you advice regarding credit repair, attorney can help. Contact Sno-Isle Bankruptcy today to get started on building a brand new tomorrow. Call Toll Free at 1-877-570-5588 Free Attorney Consultation
Stephen Garvey |
Sno-Isle Bankruptcy is a Debt Relief Agency that helps people overcome their debt problems through the legal tools available to all Americans. This includes helping people file for bankruptcy protection.
