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Posts Tagged ‘Bankruptcy’

Having to contend with bad credit in the US is common; this is why you need to know how to fix your credit. Besides, having bad credit is difficult if you are not just reading about it in newspapers. If you have bad credit, insurance companies could charge higher interest rates. It could also mean that securing new utilities would be a bit tricky as service providers do background checks on people?s credit records. On the upside, having a good credit score provides you with lots of opportunities. You have higher chances of being hired, promoted or getting a salary increase than others. Also, you are eligible for loans during times when you need cash for a project. In short, a better credit score contributes to a more comfortable life. Many people prefer having other people do credit repair for them. I say, why hire someone else when you are perfectly capable of doing it? Yes, you can do your own credit repair. This much is true. Besides, doing it by yourself means you can save on Read More

Bankruptcy can be the worst item to have on your credit report. No matter what the circumstance that led you to file, it doesn’t make a difference. It shows lenders that you were unable to pay off your debt. This will stay on your credit report for ten years and it will take some time for you to get back to having a good credit score. It will take some work, but it is possible. You can still get financed with bad credit or a bankruptcy, from certain lenders. There are specialized loans available for people who have bad credit and it is possible to qualify. When looking to get financed after bankruptcy, keep in mind that you will have a high interest rate upon approval. Bankruptcy is viewed as a risk by lenders, so the higher interest rate is a reflection upon your credit score and past credit history. Obviously a bankruptcy will have lowered your credit score, but lenders will also want to take a look at your credit history. The chances of you getting financed after bankruptcy Read More