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jennatalbot
Joined: 12 Oct 2013
Posts: 1
Location: Fairhope, AL
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 Posted: Sun Oct 13, 2013 8:30 pm Post subject: Getting back on your feet after bankruptcy |
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Last year, over one million Americans filed for bankruptcy. Contrary to popular belief, bankruptcy is not an easy way out. It carries with it some long term negative consequences. Perhaps most damaging of all, a bankruptcy negatively affects a person’s credit score for up to ten years. That makes it harder to borrow money in the future and causes higher interest rates on borrowed money. In short, bankruptcy makes a person’s financial life much harder for a number of years. If you’ve filed for bankruptcy, there’s nothing you can do about the bankruptcy remaining on your credit score for a number of years, but there is much you can do to ensure a faster financial recovery and a more stable financial life in the future.
Ask what led to bankruptcy
When you file for bankruptcy, you will be required to undergo credit counseling. While you might feel like you don’t need it, it can be a great opportunity to see some factors that may have led to bankruptcy. Contrary to popular belief, the main cause of bankruptcy isn’t reckless spending but unforeseen financial hardships such as medical bills. Whatever was the cause of your bankruptcy, find it and learn from it. If it is reckless spending, learn to better manage your money. If it was circumstances outside your control, then make sure to do a better job in the future at having an emergency fund.
Rebuild credit
A good place to start after bankruptcy is a secured credit card. In reality it is more like a debit card in that you have to put up the money first as collateral. But with a secured credit card credit bureaus have to record your responsible use of the card. Any good use of credit is going to help you recover after bankruptcy.
Pay on time
When you pay your bills can have a huge effect on your credit score. Get in the habit of always paying your bills on time. Don’t get in the habit of only making minimum payments either. Pay off your debts in full each month.
Watch out for credit repair scams
Often times after bankruptcy, credit repair companies will start contacting you. Many of these are not reputable at all. They will, for a fee, promise to help fix your credit score by giving you a new credit profile number. Sometimes this new number is actually stolen from somebody else. It is best to avoid these companies altogether and focus on improving your own financial situation by practicing responsible spending habits.
Business, real estate, and bankruptcy law and litigation news brought to you by http://mbblegal.net/
Source: http://www.kfvs12.com/story/23565162/find-your-financial-footing-after-bankruptcy
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Cskip513(at)AOL.COM
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| Posted: Mon Oct 14, 2013 2:56 am Post subject: Getting back on your feet after bankruptcy |
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This does not belong on lightning list!!!
Sent from my iPad
| Quote: | On Oct 14, 2013, at 12:30 AM, "jennatalbot" <jennatalbot(at)outlook.com> wrote:
Last year, over one million Americans filed for bankruptcy. Contrary to popular belief, bankruptcy is not an easy way out. It carries with it some long term negative consequences. Perhaps most damaging of all, a bankruptcy negatively affects a person’s credit score for up to ten years. That makes it harder to borrow money in the future and causes higher interest rates on borrowed money. In short, bankruptcy makes a person’s financial life much harder for a number of years. If you’ve filed for bankruptcy, there’s nothing you can do about the bankruptcy remaining on your credit score for a number of years, but there is much you can do to ensure a faster financial recovery and a more stable financial life in the future.
Ask what led to bankruptcy
When you file for bankruptcy, you will be required to undergo credit counseling. While you might feel like you don’t need it, it can be a great opportunity to see some factors that may have led to bankruptcy. Contrary to popular belief, the main cause of bankruptcy isn’t reckless spending but unforeseen financial hardships such as medical bills. Whatever was the cause of your bankruptcy, find it and learn from it. If it is reckless spending, learn to better manage your money. If it was circumstances outside your control, then make sure to do a better job in the future at having an emergency fund.
Rebuild credit
A good place to start after bankruptcy is a secured credit card. In reality it is more like a debit card in that you have to put up the money first as collateral. But with a secured credit card credit bureaus have to record your responsible use of the card. Any good use of credit is going to help you recover after bankruptcy.
Pay on time
When you pay your bills can have a huge effect on your credit score. Get in the habit of always paying your bills on time. Don’t get in the habit of only making minimum payments either. Pay off your debts in full each month.
Watch out for credit repair scams
Often times after bankruptcy, credit repair companies will start contacting you. Many of these are not reputable at all. They will, for a fee, promise to help fix your credit score by giving you a new credit profile number. Sometimes this new number is actually stolen from somebody else. It is best to avoid these companies altogether and focus on improving your own financial situation by practicing responsible spending habits.
Business, real estate, and bankruptcy law and litigation news brought to you by
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http://forums.matronics.com/viewtopic.php?p=410471#410471
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Bill Strahan
Joined: 20 Aug 2008
Posts: 145
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| Posted: Mon Oct 14, 2013 5:43 am Post subject: Re: Getting back on your feet after bankruptcy |
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I'm sure it's just because I was thinking to myself that this is a "bot" that I looked at the name and realized "jennatalbot" could be pronounced "genital bot"
No one would do this type of marketing if it was never successful. Who clicks on these links?
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