Jan
28
You Can Get Credit After Bankruptcy
Filed Under Credit | 6 Comments
My sister had to claim bankruptcy a few years ago after her business failed. I thought that meant that she couldn’t get any credit for 7-10 years but I guess that’s not the case.
Apparently you can get secured credit cards where you basically give the credit card company money to “deposit” and then charge against that amount. That’s a pretty good deal if you ask me. It allows you to establish credit without a risk to creditors. I think it’s a fabulous idea!
She’s now on her way back from her business failure. I think she’ll be just fine!
Jan
26
The Gift That Keeps Giving
Filed Under Credit | 3 Comments
After a really ugly divorce a few years ago, I had to claim bankruptcy. Apparently ex-hubby racked up a bunch of debt unbeknownst to me, and wham! I am in debt up to my ears with no escape.
So I tried the usual route of negotiating with creditors, but it’s like negotiating with a terrorist. They want all their money and they want it now. Well, if it was that simple, I would have done it, now wouldn’t I? So I went to speak with a credit counselor and they said BK: you have no choice.
So it’s been three years and though I’m rebuilding credit slowly, bankruptcy is definitely the gift that keeps giving. Want to buy a house? Not so easy. Want to apply for a job? Explain your bankruptcy. I’ll be living with this a long time.