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How can I re-establish credit if my credit scores stinks after bankruptcy
#1
Once you file bankruptcy, the chances are that your credit scores dropped by more than 200 points. How can a bankrupt person establish credit with a 400 FICO SCORE? This is a great question and common sense dictates that a bankrupt person will have a very hard time to establish credit again. However, the best way to re-establish credit after bankruptcy is through secured credit cards. A person who just got their bankruptcy discharged should immediately get three to five secured credit cards with $500 credit limits. Each secured credit card will boost the person's credit score by at least 20 FICO points Secured credit cards is the best tools in re-establishing credit after a bankruptcy.

 
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#2
Wink Wink Wink Wink Wink Wink

 
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#3
(09-24-2014, 11:39 PM)Gustan Cho Wrote: Once you file bankruptcy, the chances are that your credit scores dropped by more than 200 points.  How can a bankrupt person establish credit with a 400 FICO SCORE?  This is a great question and common sense dictates that a bankrupt person will have a very hard time to establish credit again.  However, the best way to re-establish credit after bankruptcy is through secured credit cards.  A person who just got their bankruptcy discharged should immediately get three to five secured credit cards with $500 credit limits. Each secured credit card will boost the person's credit score by at least 20 FICO points  Secured credit cards is the best tools in re-establishing credit after a bankruptcy.

If I'm re-establishing credit, but the credit cards are a high interest rate, how can I consolidate at a lower interest rate and have one monthly payment?
 
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#4
You need to research special 0% interest rate offers for balance transfers from credit card companies. Check credit union credit cards or special programs some credit card companies offer. There are many credit card companies that offer 0% on credit card transfers for one year or for a limited amount of time. After that time period is over, the credit card interest rate goes back up to the standard interest rate. Great question, Barbara. Smile Smile Smile

 
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