Just filed bankruptcy, when will my credit be better?

hello, I just filed for bankruptcy oct 25th, i haven%26#039;t received my discharge yet , but will be very soon. I was wondering, how long will it take before my credit gets good enough to maybe get a good interest rate on a house or a car. I am in nursing school right now, and will be graduated nov 3, 2008. I hopefully want to have my credit to a point where i can get a good rate on a house. What steps can I take to improve my credit? I did just recently get a credit card w. a 350 $ limit, and plan on paying monthly to improve my score. I was rather suprised I even got a card w.out the discharge. I also just opened a checking accounts, and again was suprised to see i was accepted w. no problem, w. a big bank like bank of america no less. But what else can i do to achieve better credit and how long does it take? has anyone had similar situations. I am kinda scared to put alot of money in my bank account, because I am afraid a shady creditor will take my money out and garnish it. please help

Just filed bankruptcy, when will my credit be better?rate my

you will now get a TON of credit card offers. Don%26#039;t get sucked in and do this to yourself again. Keep your one credit card for the next two years and pay it perfect every month. Creditors love a bankrupcy - they are sharks who see blood. Be strong and get your life together and you will be fine. Good luck. And congrats on going to nursing school. :)

Just filed bankruptcy, when will my credit be better? loan

Bankruptcy will stay on your credit report for 10 years. You can start rebuilding it by paying your bills on time so that by the time the 10 years are up, you%26#039;re credit will be better.

However... I would recommend not getting credit cards, etc. Just pay cash. It won%26#039;t get you into trouble again.|||Stay away from things you don%26#039;t need. That way you will not end up in the same situation.|||It will take a while ... like 10 years... before the bankruptcy is removed from your credit report. The important thing to know now is that you cannot file bankruptcy again for 10 years so be careful about wanting and using credit. Don%26#039;t set yourself up to be put back into the same cycle you just got out of. There are creditors that will give you credit however I don%26#039;t know what you consider to be %26quot;good%26quot; interest rates on loans and credit cards. You are still a credit risk even though you cannot file bankruptcy again. Now is a good time to live on a cash only basis so you don%26#039;t get over your head in debt again. Once your bankruptcy is filed, you should no longer have collection calls so you shouldn%26#039;t worry about having your bank account or wages garnished.|||in 2 years you still have poor credit

your report will be blemish from the BK for 10 years

you will get offers from credit card as they know you slate has been wiped clean

but none of the offer will be low rate

all will be high

typically 21 to 30 percent offers

you can go the secure credit route via Bank of America ( the only one i would reccomend, go to ripoffreport.com and search secure credit cards to see what I mean )

a 350 limit is low and will not help you much as no bank will see you as a viable risk since you have not shown that you can handle a large amount financed, a finacne car would be better but even then that%26#039;s a cath 22 since you have really no credit to even get an auto loan, only time and building up your credit will help you out, expect at least 6 years for you to get a descent ( not good ) rate, as until that BK rolls of your report, despite the loan industry%26#039;s bad finances, they can still be picky about the loan rates they give to %26quot;subprime%26quot; candidates like you.

they do not check for credit when opening a checking account or savings..

as for garnishment.. that against your wages

levies are against your accounts / assests

and the only ones that can do that are the federal / state goverment and even with advanced notice

creditors can only get judgements and possible wage garnishments, but as long as all your creditors were listed / included on your BK filing, you are in the clear with all of them and they have no legal standing once your BK ha been discharged. but if you forgot a creditor they have statue of limitations to collect, and your best bet is either to settle ( in writing ) or do not make any contact with them what so ever for 7 years|||There%26#039;s no simple answer to this. Ballpark guesstimate is 4 to 6 years before you can be be considered a good credit risk again. A bankruptcy is a very serious blemish on your credit but it%26#039;s not the end of the world, it means from here it can only get better. Within 2 years you can be qualified for subprime auto/mortgages, but you can also expect to pay extraordinarily high interest rates, and that%26#039;s WITH an unblemished credit history since your discharge.

Only time will heal your credit. A CC with a low credit limit can only help you as long as you maintian a solid payment history. Even with a bankruptcy creditors can be much more forgiving if have re-established a trend of responsible credit management since then.

But be very very careful. Although you do need credit to rebuild your credit, there are less than ethical credit issuers out there who are more than happy to offer you a shiney new credit card. There is a reason for that. It%26#039;s because as a bankruptcy you are a prime target as someone who they think will go out and rack up massive debts again, except this time you cannot file another discharge. That means you are trapped with massive debt, outrageous interest and late fees, and cannot escape. Use very minimal credit and use it wisely, throw any offers you get in the trash. The rest is simply time. As I said, it will get better and your bankruptcy will be a forgotten chapter (no pun intended) in your life.|||How to Improve Your Credit Rating After Bankruptcy : Bad credit and bankruptcy are the two most dreaded words in the financial world. These two things can greatly impact your financial situation. But what you are not aware of is the fact that you can improve your credit rating after bankruptcy. Your credit rating and bankruptcy|||Mike, take a look at the link I posted below. There is a lot of very good info on this site.

Recovering from a bankruptcy take time. But with proper planning you can cut that time by a couple of years. Still, having that on your credit report will still look bad to many creditors.

I%26#039;ve helped out a lot of people in these situations. The key is to get your finances in order and establish a good payment history. No intelligent lender is going to turn down a customer who can demonstrate they will pay back the loan, even with a bankruptcy on their records. You may just have to shop around a little harder.

PS...not spam. I recommend this site to everyone. I am not a lawyer or credit counselor, just someone who has been down this road and knows what to do.|||If you%26#039;ve been bankrupt what eveyone wants to know is that you are a responsible borrower and will pay your debts back with regular and timely payments. You get to demonstrate that by borrowing money, small amounts, and paying it back as you should. It takes time, but if you go about it carefully you can rebuild your credit.

There%26#039;s a website here with some useful tips.

Good luck!|||http://bankruptcy-relief.blogspot.com has good information for dealing with a bankruptcy or trying to prevent one with alternative methods.

http://bankruptcy-relief.blogspot.com

http://loanconsolidation1.blogspot.com|||check out dave ramseys web site. your credit from now on will be up to you. God bless...................