Shopping after Discharge
I live in Texas and pay high rent. I'm doing serious thinking on shopping for a new home.
How would you suggest i rebuild my credit other than staying on top of my current bills such as cable,electricity,rent,water. I have no car payments . I don't want no credit cards. Also How long does it take for discharge letter to be received?
You are already taking the precautionary measures after your ban
You are already taking the precautionary measures after your bankruptcy is discharged. Make sure that you don't add up new debt accounts at least for the next two years. This is the time you should focus on your credit and rebuild it.
Besides there are other things you can do to repair your credit. Pull your latest credit copy from the three credit bureaus. If you notice any inaccuracies in your credit file, report to the bureaus. The agencies have 30 days to investigate the incorrect item and provide you the free copy. However, they are not obligated to investigate the frivolous complaints.
Most important thing you can do to rebuild your credit is to pay any of your non discharged debts on time. Get a secured card and use it to make small purchases and pay the bill on time. You will build up the credit limit over some period of time. Remember to pay the entire balance each month. Don't go for any credit cards, not even store cards. Keep your credit accounts in good standing for a long time. Don't take new loans at this stage.
Following these steps, your credit scores must go up. Give two years time and you will get the loans at the regular interest rate. If you have any queries, let me know or consult a credit counselor or an attorney for specific information in your case.
