Credit Card Debt:

Repair After Bankruptcy

Ah, credit card debt. You've asked yourself the question many
times, "Will I ever get credit again?" The answer, although
seemingly complex, is quite simple: Yes.
You can have another
chance at re-establishing your credit. Filing bankruptcy is the first
intelligent step taken to wiping out accrued credit card debt.

The
next step you'll have to take is to repair your credit report. In
order to do this, you'll need to develop great patience while you're
re-establishing your credit, as these things do take time.

Two or three years after you've eliminated credit card debt by
filing bankruptcy, you'll want to start rebuilding good credit.
How, you ask? Apply for secured credit cards. Preferably
cards without annual fees attached to them.
Do your research
on the internet to see what others have done in similar situations.
If you come across an offer which looks to good to be true, it
most likely is. Use discretion when giving out Social Security
numbers and personal information online.

Start small. Don't expect anyone to hand you a $10,000 credit
limit overnight. You've had a history of credit card debt, it's not
going to happen.
Make lenders trust you again. Make monthly
payments in the full amount. Your payment transactions will
determine how successful your new credit report will be.
If
you're late with payments you're heading in the wrong direction.
You don't want to end up on the road to credit card debt or
bankruptcy again, do you? Of course not.

The stronger your current financial condition is, the better
candidate you may be for future credit. Convince lenders that
you've left the past behind you. You've changed your ways.
Show them how you've handled money since the bankruptcy.
Prompt payments made in a full amount are very impressive to
a credit lender.
If you're denied a major credit card, don't get
distraught. Try applying for a department store's line of credit
or a card issued by an oil company. These are some small
steps to a successful debt-free future.

It's also important to keep an eye on your credit report. Make
sure that everything is accurate and appears is it is supposed to.
Errors, which can go unacknowledged will only harm you in the
future. Your local bank can give you a copy of your current
credit report for a nominal fee.
However, if you're a legal
resident of the United States, you are eligible to receive free
credit reports. Specifically, one credit report per year.

In 2005, the Federal Trade Commission announced that every
United States citizen is eligible to receive one free credit
report on an annual basis, regardless of where they live. This
was wonderful news to Americans everywhere. To receive
your free credit report, you must supply proof of your identity.
Questions you may be asked will include: your name, address,
social security number, and a personal question [for security
purposes] that only you will know.

Nevertheless, be very careful. There's a wide number of
companies who will promise free credit reports. But are they
legitimate?
Anyone can build a website and claim that they're a
credit agency. Why risk giving out your personal information to
a stranger? Identity theft has become increasingly popular.
Don't fall prey to a fraudulent credit agency that you know
absolutely nothing about.
Do some background research on
the company prior to using their services. If you can't find any
information relating to their services they're probably not very
trust-worthy.

Credit reports can be received online or through physical mail.
Be certain that the company which is offering free credit reports
is being employed by the FTC. Bear in mind, anyone can say
they're affiliated with the FTC. Make sure that they're legitimate.
Such a fiasco occurred recently on the internet. Thousands of
people were taken advantage of when they filled out a form for
a "free credit report." Don't give out your information to anyone
but a trusted bank, a reputable mortgage broker, or an agency
employed through the Federal Trade Commission.

To learn more about "fixing" your debt visit: http://www.fix-a-debt.comAll Rights Reserved -
This article can be freely reprinted only if resource box and
links are kept intact.

James Duggan