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

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 ...
 
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....
 
Top tips for money management and using a credit card
Published by Jesse Wallace on June 6th 2012 | Finance

Learning how to use your credit card effectively could help you balance and manage your debts....
 
What best practices are available for me to boost my credit rating?
Published by Jesse Wallace on June 6th 2012 | Finance
Improving your credit rating can be the best way to get discounted rates on credit cards and loans....
 
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...
 
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, ...
 
Loans for Bad Credit People: Weak credit is no more a trouble
Published by Ella Trant on June 8th 2012 | Finance
People with bad credits can realize their urgent monetary needs with loans for bad credit people wit...
 
Loan Calculator- What you require to recognize about a credit sum calculator
Published by Ian Foster on January 27th 2012 | Finance
Loan Calculator have lots of abundant websites on the internet that make available to their visits w...
 
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...
 
Signature loans no credit check- Get fund with a simple signature!
Published by John Simen on April 9th 2012 | Finance
With the aid of signature loans no credit check, you can avail funds up to $15000 with your signatur...
 
Finance for worst credit sanctioned within a day of filling
Published by Ross Sorin on March 2nd 2012 | Finance
Online financial aid is available for bad creditors through which they can get easy cash without fac...
 
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...
 
What to consider when applying for a credit card online
Published by Fiona Roy on April 23rd 2012 | Finance
Discover which type of credit card is right for you....
 
Prepaid credit cards help you in rebuilding your imperfect credit
Published by John Cena on January 11th 2012 | Finance
Prepaid credit cards are same as other plastic cards and prove to be helpful people to refurnish the...
 
Student loan default might cause bad credit record
Published by Peter Paul on December 22nd 2011 | Finance
Student loan default is a very common problem that is seen globally. Student loans in default should...
 
Get an absolute idea before opting for business credit loans
Published by Macrobusinesscapital@gmail.com on January 15th 2012 | Finance
The growing world and the rapid increase in the technology have completely changed the life of human...
 
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...
 
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...
 
Hard Money Loan No Teletrack- Grab loan with no credit checking
Published by Gorgie Nork on January 9th 2012 | Finance
Hard Money Loan No Teletrack can be availed with the aid of simple online process. This loan is usef...
 
Instant loans with bad credit: Cash facility with poor creditors
Published by Calvien Peter on December 5th 2011 | Finance
These finances are the best way to get the fast cash. Applicant can avail fast cash without pledging...