How to Rebuild Your Credit

Bankruptcy Resources Credit Report • Author Mark Martella, Esq • Jul 15, 2016
Credit Report

[caption id="attachment_110" align="aligncenter" width="450"] How to Rebuild Your Credit[/caption] Whether you have filed for bankruptcy and received your Discharge, or have had a life changing event that caused you to fall behind on your bills and and take a big hit on your credit report, neither event is fatal and you can rebuild your credit. Ironically, it may actual be easier to rebuild your credit after filing bankruptcy since you may no longer have any unsecured debt. If you have received your Discharge, you have become a good credit risk. First, you have eliminated all of your unsecured debt, and any secured debt that you kept presumably is debt that you can afford. Also, you are a good credit risk since if you filed a Chapter 7, you cannot file again for eight years and, if you filed a Chapter 13, you cannot file again for four years. This is what is meant by the fresh start that you get by the Discharge provided in bankruptcy. It is as if you went back to being 18 and just graduated from high school, or 22 and just graduated from college. At that time, you had no real credit history so, therefore, you do not have a great credit rating. Likewise, now that you have received your Discharge, you have a fresh start to re-establish your credit. The following are five steps that anyone can do to reestablish their credit if they have the required self-discipline: Paying your Debt ON TIME If

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Foreclosures Up – What About Deficiencies?

Foreclosure Mortgage • Author Mark Martella, Esq • Sep 12, 2014

A few weeks ago, I was interviewed by a reporter from the Charlotte Sun regarding the increase in foreclosure filings in the month of April in Charlotte County. I told the reporter that while I had been anticipating an increase in the number of foreclosure filings…

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