4 Post-Bankruptcy Credit Fix [mortgagegoal.blogspot.com]
One of them was Countrywide Financial Corp., the mortgage lender that was careening toward bankruptcy in 2008. Bank of America has since been stung by more than $ 40 billion in costs tied to faulty home loans and foreclosures, which fueled the firm's ... BofA Posts Quarterly Profit as Chief Takes Aim at Expenses
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mortgagegoal.blogspot.com Qualify for a Home Loan Even after Bankruptcy.
A bad credit history is a sure way to paralyze one' s borrowing privileges. The effects of
having bad credit have long been established and well-known amongst the masses but sad
to say there are times when one is left with no choice but to succumb to it as unforeseen
circumstances in relation to money may come every now and then forcing them to use the
money intended to pay bills, credits and mortgages on other matters that require urgent
payment. If things like this happen one could only hope to get the best help that they can
get. One could only hope that the credit fix that they pick is the best method that can help
them get out of bad credit' s strong grip.
The good news is that credit scores do not stay still.
score as of now but you can do things which can make it soar up high in the next 6
months. Effective credit fix after declaring bankruptcy is just like Rome. It can' t be
built over night. But if you come to truly think of it, the effort and wait are worth it as its
effects weigh more than the sacrifice.
1. Fix your bad credit by getting rid of errors in your credit report. If you are on a credit
fix spree, you need to keep your eyes open. Remember that the information given out
by the three Credit Reporting Bureaus are not exactly accurate. Anticipate errors and
exert extra effort in looking for them. The Fair Credit reporting Act gives one or its legal
representative a chance to dispute and correct these inaccuracies that maybe found in
credit reports provided supporting documents are provided.
2. Another credit fix method that you can use after bankruptcy is by reaffirming
credit. Taking into consideration the 2005 Bankruptcy Laws, it is essential to reaffirm
mortgages, car loans and any other types of secured loans. This will prevent occurrence
of resale or repossession as it does not only permit consumers to hold on to their
properties as installment of debt repayment gives perfect opportunity for credit fix.
Bear in mind that lenders report everything to credit reporting agencies every month.
Therefore, punctuality in paying loans, mortgage and other debts can help in increasing
your low score. Starting from scratch is not easy but if you are willing to take the first
step, everything will hopefully follow in the long run.
3. Get your act together. Do some kind of a lifestyle check as it will help you put things
in proper perspective. Learn to differentiate wants from needs. Find out where exactly
to use your credit card for and when to stop. The best credit fix that you can do is to
educate yourself with the things that you can do in order to avoid needing one. Its effects
are not only effective but long term as well. Related 4 Post-Bankruptcy Credit Fix Issues
