August 16th, 2005 by Questions
can a person start to rebuild there credit befor being discharge from bankruptcy,and how?
August 19, 2005 at 3:10 am, Barton Goth, GCO Inc. Bankruptcy Trustees said:
The process really wonâ€™t have much of an impact until you are discharged from bankruptcy. Once you are discharged from bankruptcy you can begin to rebuild your credit, perhaps by getting a secured Visa card. You give Visa a $1,000 security deposit, and you get a Visa card with a $1,000 limit; this access to credit begins to re-establish your credit, and increase your chances of qualifying for additional credit, such as a mortgage.
The key to regaining your credit is proving to the lender that you are responsible with money.
Having sad that, saving money now is the best way for you to start the rebuilding process and will enable you to get a jump on the rebuilding process.
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