How do I rebuild my credit after one has filed for bankruptcy. I do not have a lot of income?
June 27th, 2010 | 
Author: yuniquematthew asked:
My score now is I think less than 500. I have tried to get credit but they have denied me due to many outstanding debts. I thought that after you file they only see that you filed for bankruptcy?? Please help because I am lost.
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There is a lot of research you can do on this topic on the net. You will probably have to wait a few months then start applying for credit cards. That is what my husband did after filing for bankruptcy and his credit is back up. Just do your research and you will be able to do it.
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Why do you want to ?
Credit has obviously caused you problems.
Don’t spend more than you earn, save 10% of every dime you get and eventually you will never even need credit.
This is the way to get rich. Be your own creditor, using your own savings. Don’t make the banks rich, make yourself rich
bankruptcy
I’m sorry to say this and please don’t think this is rude.
But, if you don’t have a lot of income and you’ve just filed for bankruptcy….that’s a pretty good indication that you don’t really deserve any credit at this point.
You already have obligations that you should be paying.
Pay off what you owe first before you think about what else you want to spend.
You need to get your spending under control, using the resources you currently have.
Make sure you can pay whatever bills you have with your current income. Anything left over, you should try to build up into some savings.
Once you’ve built up a little cash, then try to get one secured credit card (from your bank) and don’t spend more than you can pay off in one month.
Slowly after you’ve had the card for a while, you can begin to run a small balance.
It will be a long time before you get unsecured credit (at terms you can afford) again.
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How to Improve Your Credit Rating After Bankruptcy
Bad credit and bankruptcy are the two most dreaded words in the financial world. These two things can greatly impact your financial situation. But what you are not aware of is the fact that you can improve your credit rating after bankruptcy. Your credit rating and bankruptcy …
bankruptcy
It is true that after your discharge, the debts are cleaned from your credit report. But the bankruptcy report still remains, and that is a huge hit on your credit. There is no way around it.
The process of fixing your credit will take a couple of years and some carefull planning.
The link below has lots of information that will help you, as it’s written specifically for people in your situation. I suggest spending some time researching here.