Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

I Filed Bankruptcy Now What?

By William Hauselberg Subscribe to RSS | March 6th 2012 | Views:
loading
 
  



If you’ve received your pre bankruptcy counseling certificate and have taken the plunge to actually file for bankruptcy, it’s time to take action. Bankruptcy has serious consequences such as substantial damage to your credit report. But simply dwelling on these consequences will not do anything to change your situation. Yes, bankruptcy will remain on your credit report for anywhere from seven to ten years, but it does not last forever, and there is hope and life after filing.

Will I Ever be Able to Move?

Many people who file bankruptcy have concerns about their living situation, particularly if there is a move on the horizon. Though you may not be able to purchase a home any time soon after filing for bankruptcy, you will be eligible for an FHA loan two years from the date of discharge from bankruptcy.

For renters, the fear is that potential landlords will not be willing to rent a home or an apartment to someone with bankruptcy on their credit report. Though there is the potential you will run into such a roadblock with larger property management companies, you might be surprised to learn that private homeowners looking to rent out their properties are much more flexible and easier to reason with. After filing for bankruptcy, you have no debt and are likely very eager to begin rebuilding your credit, and can therefore present yourself as a reliable renter able to make your monthly payments since you no longer have any other debt to contend with.

Don't be Tempted by Old Habits

In addition to keeping up with monthly rent, there are other steps that can be taken immediately to improve your credit score and get back on your feet again. Believe it or not, after filing for bankruptcy, you will likely begin to receive a stream of credit card offers. Opening a new line of credit can certainly help you to rebuild your score, but only if you are able to spend responsibly and make your payments on time and in full. Remember, spending beyond your means and not keeping up with your payments is likely what led you to bankruptcy in the first place, so proceed with caution.

For more information on how to improve your credit score, contact an accredited non-profit credit counseling agency. Trained credit counselors will work with you to develop a personalized budget management plan to help put you on the right track toward rebuilding a life of financial freedom and security.

William Hauselberg - About Author:
The author has an immense knowledge on pre bankruptcy counseling certificate. Know more about improve your credit score related info in his website.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/finance-articles/i-filed-bankruptcy-now-what.htm

Related Finance Articles Subscribe to RSS

Bad credit and mortgage refinance option
Published by Kam Brar on December 16th 2011 | Finance
As people think, it is not easy to get mortgage refinance with bad credit. There are various factors...
 
No credit Check Loans: Easy Cash, Impaired Credit No Matter
Published by Amarjeet Singh on July 11th 2012 | Finance
No credit check loans are a kind of finance programs which the people of Canada look for. No credit ...
 
Regain your financial standing through credit counseling Houston
Published by James on March 31st 2012 | Finance
There are lots of people who fall into a debt for different reasons. Usually after falling into a de...
 
License of subprime credit broker revoked by OFT
Published by Sandra Jeux on March 12th 2012 | Finance
The licenses of sub-prime broker Yes Loans and two associates, i.e., Blue Sky Personal Finance and M...
 
Christian credit counseling and credit counseling services
Published by James Blee on December 14th 2011 | Finance
This recession has been very tough for people who have especially taken loans against their credit c...
 
Unsecured loan information : Advantages for the all types of credit scorer
Published by Mark Fulton on April 12th 2012 | Finance
Unsecured loan Information are normally a personal loan and are ideal for individual who need money ...
 
Cash loans bad credit- Fast Cash Notwithstanding Bad Credit
Published by Rider Abraham on March 21st 2012 | Finance
Cash Loans Bad Credit is an instant solution and a great short term financial support for persons wi...
 
Where can I get the best rate credit cards - at the bank or online?
Published by Jesse Wallace on June 6th 2012 | Finance

Applying for a credit card online can sometimes offer better rates than in high street banks....
 
Welcome Finance Loans- Unsecured credit for helpful Roadmap
Published by Mark Fulton on January 26th 2012 | Finance
Welcome finance loans explicit information about finding it out may not be simple but we have gather...
 
How can i get dependable credit card debt advice and exactly how could it benefit me?
Published by on March 27th 2012 | Finance
Credit card debt advice is a program provided by debt companies to help those people who are battlin...
 
Understanding Christian and credit card debt settlement organizations
Published by Julia Roger on December 14th 2011 | Finance
With increasing debts among the majority of the population, people have started to seek professional...
 
Merchant Account processing type Merchant debit and Merchant credit card processing
Published by Eric Hannelius on January 18th 2012 | Finance
When you are doing the business your main focus is onto customers’ service provided to them so tha...
 
No Credit Check Loans- Fast Cash Without No credit Checks
Published by Jason Welsh on March 29th 2012 | Finance
If you are looking for a hassle free and easy process to get immediate cash help, then you need look...
 
Why hire a credit card debt management company?
Published by Yossi A on January 12th 2012 | Finance
As a matter of fact, it not only clears your already existing debt but also offer valuable technique...
 
No credit search loans - Get Funds Without Verification Process 
Published by Alice Johnsonn on January 12th 2012 | Finance
No credit search loans don’t account your credit history and helps you to avail cash support in qu...
 
Free credit report no fee: know your financial standing
Published by Alice Marlen on May 25th 2012 | Finance
When you request for an extension of credit, loan or credit card, the promising credit grantor will ...
 
Free credit score report: why to get one
Published by Brigham Brock on May 29th 2012 | Finance
It is essential to begin creating a credit status as early as possible. You can start to create one ...
 
Why should i get my free credit report?
Published by Mary Cruise on May 25th 2012 | Finance
Your free credit report is consulted by potential employers, landlords, credit issuers and lenders, ...
 
If you accept Visa and MasterCard you can get Bad credit small business loans
Published by Joseph Richard on April 4th 2012 | Finance
Despite it being a popular means of finance, there are several business operators who are unsure of ...
 
Bad credit debt consolidation UK
Published by Fresh Finance on January 19th 2012 | Finance
The debt consolidation entails taking out one mortgage to pay off many others. This is done to prote...