There is no doubt that filing bankruptcy is detrimental to your credit rating and that most counselors will tell you that you should wait about three years after filing before you attempt to rebuild your credit. However, there are some different things you can try to start improving your credit rating.
It may appear to be impossible to obtain a loan, but if you are willing to pay a higher interest rate then you may be able to obtain a loan. Keep in mind that you are going to have to work to get your report back in shape and unfortunately some companies take advantage of this and will provide a high-risk loan at an exorbitant interest rate.
If a loan is out of the realm of possibility then consider applying for a credit card. If you are unable to get an unsecured account consider opting for a secured credit card. Or, many times a company will issue you a card with an available balance of about two or three hundred dollars but you will end up with about $50 available after they charge their process fee, annual fee, etc. They will include those fees on your first charge and will possibly request a minimum payment of around $45 - $50 per month. Again, with a bankruptcy on your report you have to expect to pay more to start the rebuilding process. Be sure to read the terms and conditions carefully on a card of this type as the rates are high and they sometimes have annual fees that you will have to keep paying.
If you are able to obtain a loan or credit card your top priority is to pay it on time. That is the only way to rebuild credit and also will show potential lenders that you are credit worthy.
If You Can Read and Write at The 5th Grade Level I Can Show You How to Raise Your Credit Score Up to 249 Points in 90 Days! Raise Your Credit Score Now is the place to visit.
Check Out our Blog For More Informative Articles! Credit Repair Facts is a must.