Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Bankruptcy
Profile Image

Question By
66blooms

0 Contributions
0 People Helped
i filed bankruptsy in 2010 how long is my credit doomed
help

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
116 Contributions
371 People Helped
Most Helpful Response

Bankrupcy

Helpful to 2 out of 2 people

Not doomed.  My son declared bankrupcy last year and has 5 late payments on his mortgage.  Creditkarma has his score at 702.

Top Contributor
7362 Contributions
3808 People Helped

Not necessarily doomed!

I filed a Chapter 13 many years ago and it bites for about 10 years because that's how long it stays on your credit reports.  That's just one thing you can't change.

But, you can change how things get reported now just by making regular payments on all accounts, including rent, utilities, phone, etc.  You might try for a secured credit card.  Start with a small amount and pay it in full every month.  Gradually add more to the secured account and keep it paid off quickly.  Never let a credit account go into default or it'll take longer to build your credit back up.  You want to show you can be trusted, and regular on-time payments show that.

If you don't already have one, you may want to start building a savings account equal to AT LEAST 6 months rent and other expenses.  This is a wise thing for everyone to do so they'll have breathing room in case of disaster.

So relax and start now to show being a very reliable, responsible consumer, and your credit will build faster than you thought.

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.