gsiess

HANG IN THERE!!!! We had to file for bankruptcy two years ago because of job loss and some other circumstances that happened. We now have a credit score of over 700, not great but good. The trick is to get/keep your debt ratio low and pay all bills on or before time each month. If you have credit cards keep them to below 50% of limit and pay them off each month also. We started buy getting a secured card, only charged half each month and paid it off each month. After about six months we were able to get an unsecured card and did the same thing. Even though we don't have to use the card now we still do for small stuff ( gas, etc) and pay it off each month. What creditors want to see is a HISTORY of good payment. YOU CAN DO IT!

There is hope! We had to file for bankruptcy a little over two years ago and it is possible to get credit cards. We waited about six months and then applied for high interest cards (not the prepaid/secured cards), used them very little and paid them off every month. We now have three cards with a total limit of around 5K and a credit rating over 700. The secret is, DON"T GET YOURSELF INTO THE SAME SITUATION YOU WERE BEFORE WITH THE CARDS. Be wise and you can build your credit back up.

Bankruptcy is not the end of the world. Avoid it if you can at all cost. After a job loss and poor job market in the area we live in we started working with credit counseling services (be careful)to lower our payments. Although we got some lowered, one of our creitors sent lawyers after us. Our only option was to file. After being discharged for a year now we have a credit score of 697.This is due I beleive to getting a couple of low limit credit cards, using and paying them of each month. You can bounce back, hang in there.