(404) 941-0008
Atlanta, GA Bankruptcy Credit Repair
Credit Repair after bankruptcy is yours to obtain, if you choose CreditGA in Atlanta. Most people are under the false impression bankruptcy is the end of all credit accounts. However, this is not true. In most cases, filing bankruptcy is an opportunity to start fresh with new creditors and new accounts. In extreme cases, a bankrupt consumer can become more attractive to creditors because of the decrease in their debt-to-income ratio. In these cases, when applying for credit after bankruptcy, it’s important to know which creditors will assist with building your new credit.
Discharge Results in an Improved Debt-to-Income RatioMost people who are considering filing bankruptcy already have poor credit histories. Their credit ratings have suffered because of slow payments, late payments, repossessions, extended credit, charge-offs, foreclosures or judgments. After a bankruptcy, however, those debts will no longer count against their income, resulting in their credit being better after the discharge than it was before. In addition, while a bankruptcy case will remain on an individual’s credit report for up to ten years; late payments remain for up to seven years, so the effects are similar. This gives consumers a chance to improve their credit faster because they will have an improved debt-to-income ratio after discharge.
Using Credit Cards WiselyA secured credit card is a great alternative for rebuilding credit after bankruptcy. It operates just like an unsecured credit card. The difference is you, the cardholder, are required to make a deposit against the credit limit on the account. The creditor uses the deposit as security in the event you default on the credit card payments. Secured credit cards usually have fees which unsecured credit cards do not. These fees include application fees, processing fees and annual fees. Beware of cards with high fees as they can greatly reduce your deposit and ultimately your credit limit. When securing our services, CreditGA, Inc. will provide you with a list of banks offering secured credit cards that do not have the high fees. In some cases, individuals may be able to keep one credit card after bankruptcy. They may retain a card that has no debt on it, or sign a contract with the credit card company after filing bankruptcy that says the debt will be paid anyway if the holder is allowed to keep the card. Many companies are willing to agree to this arrangement because they will be paid for the debt. Great Ways To Repair Credit After Bankruptcy:
If you are need of bankruptcy credit repair Atlanta call (404) 941-0008, or browse our website for more information on Credit Repair.If you have any questions or comments contact us.
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