Credit Card Bad Credit Bankruptcy

i want to start rebuilding my credit but i have been told that even if i pay it off that i will still have it on my record. so what can i do to clear it and start new?

Talking to a credit conselor can help, but I would avoid a debt consolidation program , or at least get all the facts before joining one. Many programs will actually negatively affect your credit because their proposal to your creditors will be to reduce monthly payments or eliminate late fees, and in turn creditors will "close your account". Some debt consolidators are quite pricey, too.
What I would do is first contact all creditors and try to negotiate a payment arrangement. Ask them to waive late fees. I have had success with 4 different companies when asking for reduced/waived fees or lower interest rates. Mostly they just will want to get the principle amount back and are not too worried about collecting fees.
Next, talk to a credit rebuilding company like Lexington Law. For a fee, they can help you remove some marks from your credit. I brought up my credit score 100 points by doing this.
DO NOT FILE BANKRUPTCY! you can find a better option that will not imact you so poorly.

2006-05-31 17:27:44 by bartendergirl25

Bad Credit Dept Loans Help Credit Cards Bad Credit Cash Advance Loans Home Loans Home Loan Refinance Consolidate Dept and Avoid Bankruptcy Bad ...

Your best bet would be NOT to get a credit card and to pay cash for your purchases.

2006-02-18 17:27:46 by sexybaker24

Price: $30.00 $19.80

I know a lot of people are filing bankruptcy on credit card debt. I did this myself and got 35,000 dollars worth of credit card debt discharged. That means my credit card companies lost a lot of money on me. I know my credit is ruined but oh well. Unsecured debt should be more difficult to get. It is still easy to file bankruptcy if one meets the means test. Your opinion, please.

I had 20K that was discharged 5 years ago, but I learned my lesson. many people don't.

I don't ever want to be in debt and in that position ever again in my life.

I agree that loans should be harder to get, and it may very well come to that point. Banks will be more careful in the future I'm guessing about who they give money to and how much.

Debt is a BAD idea.

2009-02-08 00:13:33 by cowgirl

Price: $9.95

We are now paying for our mistakes in the past, we want to buy a house but don't know where to start or even if we can. I have around $7,000 credit card debt and he filed bankruptcy in 2005. We would rather own then rent.

Based on the information you provide, which isn't much...If your husband is in the Chapter 13 and you want to buy a house, first, you would need to find someone willing to finance you, and then it must be approved by the trustee of the courts. While in a chapter 13 bankruptcy, anything that is financed has to be approved. The trustee is pretty much acting like your husbands financial advisor and telling him whether or not he can afford a new debt seeing he's in a bankruptcy he couldn't handle his debt before, he probably wouldn't qualify now. It all depends on your incomes, with a high credit card balance, you need to pay that off. Good Luck!

2009-04-30 01:59:01 by Trophy Wife

are you one of the millions in the world who have filed bankruptcy because of over spending? bad money management? It seems legit enough for a business to go bankrupt, but an individual who has just been on one too many shopping spres? I dont really agree. This stems from a particular person that I know who has filed 2 times. Not only was she unable to control her spending one time, she failed 2 times, and still gets offers for new credit cards within months of filing. Now, if you have filed once and have shown that you cannot support the line of credit that was given to you then why would companies offer you more lines of credit? I cant get any type of credit due to late fed student loan payments. Im in default, and they dont budge! But yet, get a few credit cards for personal spending and hey if you cant pay for it, file bankruptcy and we will give you more credit you cant afford! I cant file bankruptcy on the student loan, and because Im behind it will stay on my credit report until

No I donot feel that this is a viable alternative for those of us that cannot control our spending.

If it was up to me, credit cards would either be eliminated altogether or they would have to be "prepaid" - deposit $$$$ to account and then get credit card - which would eliminate the huge debt that americans are building up.

People refinance their homes to buy expensive SUV's, payoff credit card debt, buy boats, etc.

When the crunch comes and banks start calling in those (unsecured) loans, a lot of people will go from rich to poor.

The only way to handle credit cards is to pay them off monthly and do not spend over your budget. That way you get a free loan for 30 or so days. If credit card companies strat charging interest from the tiome of purchase, I will stop using them and pay cash.

2006-12-20 09:56:34 by Balu