Re: So how bad WILL bankruptcy hurt me?

Posted by LadynRed (199.91.33.254) on May 13, 2004 at 14:30:52:

In Reply to: So how bad WILL bankruptcy hurt me? posted by Steve on May 12, 2004 at 18:58:44:

Actually, you can start rebuilding immediately after discharge, you don't have to wait 2 years. The first thing you do is work on post-bk credit repair - your reports will be a mess. You start to rebuild with a secured credit card and between the repair and wise and careful use of the card, you should be in reasonable shape credit-wise in about 2 years. With squeaky clean post-discharge credit, you could qualify for an FHA mortgage.

JK is right, creditors will THROW credit offers at you .. you must resist and round-file them. Don't let them choose you, YOU do the choosing after careful research and consideration of their terms, most of which will be horrid.

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