Profile picture for Bear44203

what the best n fastest way to build credit after bankrupty

bankrupsty clear april 2010
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 03 2011 - Barberton
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (3)

Profile picture for sunnyview
Keep any credit card balances to no more than 30% of your limit, pay all bills on time, re-establish credit by starting with a secured credit card, limit your amount of debt overall and build your credit card accounts up by opening and keeping 2-3 cards current. Use those cards in rotation and ask each card to increase your credit limit by a little bit at least twice a year to lower your overall credit utilization percentage.

There is an article here from myFICO about how your credit score is calculated and what you can do to improve it. Hope it helps.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 18 2011
The credit bureaus like you to have at least 2 open trade lines.  This would be 1 credit card, and 1 other source of credit (Car Loan, Installment Loan, etc) or just 2 credit cards.

This ensures that the credit you are making payments to will be reflected on all three credit bureaus.  If you only have 1 credit card it's possible that that card 'could' only report to 1 credit bureau, which would only give you one score, not the needed three.

Keep your balances on your credit cards <50% of the high credit.  So if your high credit is $500, then keep the balance below $250.

If you continue to make payments on at least 2 credit accounts after your bankruptcy you 'should' have enough re-established credit after 2-years to go with an FHA loan.

Feel free to email me for more details, I've been doing credit repair for eligible borrowers for about 3 years now.

Best of luck to you!
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 18 2011
Pay all bills on time.

Save some money out of each pay source.

Live way below your means.

If needed purchase a clean used vehicle or new. Pay on time.
Car credit is different than House credit. Easy to do after bk if you have good income.

Use credit wisely and save. Pay on Time can not be stressed enough.

Good Luck!

James Callas - Realtor®
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 03 2011
 
Related Questions
What can I do to get more (or better) quotes for my loan request ZR-DFYKSQQ?
Profile picture for wetdawgs
Latest answer by wetdawgs
January 20 2013 | 1 answers
what the best n fastest way to build credit after bankrupty
Profile picture for sunnyview
Latest answer by sunnyview
September 18 2011 | 3 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 324 Delton Ln, Wadsworth, OH Home For Sale
    324 Delton Ln, Wadsworth, OH 44281

     For Sale: $69,900

    • Beds: 3
    • Sqft: 989
    • Baths: 1.0
    • Lot: 43560
  2. 1431 Haynes Ave, Barberton, OH Home For Sale
    1431 Haynes Ave, Barberton, OH 44203

     For Sale: $114,900

    • Beds: 3
    • Sqft: 1366
    • Baths: 2.0
    • Lot: 7405
  3. 99 Mitchell St, Barberton, OH Home For Sale
    99 Mitchell St, Barberton, OH 44203

     For Sale: $47,900

    • Beds: 2
    • Sqft: 858
    • Baths: 1.0
    • Lot: 4599