Bankrupcy Tips – Work On Rebuilding Your Credit – Part #2
Ah yes, the 800-pound gorilla that you would have to take on rebuilding your credit. Fortunately for you, filing for bankruptcy does not have quite the same social and financial stigma it once did ten, maybe twenty years ago. ‘The purpose of filing is a safety valve, says Roger M. Whelan, resident scholar of the American Bankruptcy Institute, a nonprofit professional organization. ‘Thank God, the day in which it was like wearing a blazing star on your forehead is over.’
But rebuilding your credit is the double-edged sword of post-bankrupcy life. You have gotten to where you are now because you mismanaged your credit. However, this does not mean that you would have to steer clear from credit from now on. At first, you may have to, because you are given little choice on the matter. But sooner or later, you find that you have to get credit to rebuild your financial life.
So what are the rules? There are no rules; thats the best part about it. It does not matter how you do it or how fast. The factors can vary widely from the kind of resources you have and the type of...
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