How to Find Credit Repair Plans after Bankruptcy

By Brown Articles Published 06/16/2011 | Credit Plans

Once you have come out of bankruptcy you will be re-building your financial records and notably your credit history by using a credit repair plan. With bankruptcy you will have dealt with all your debts and that page is over now, although you will now be faced with the problem of a bad credit and this is where a credit repair plan can help you.

You will have to get used to the fact that most people and financial companies will be judging your past financial problems and are unlikely to trust in you. Unfortunately you cannot completely erase the consequences of your debts but you can work on reconstructing a new financial history in order to prove you can start over and apply for further loans when your finances are checked over and this can be done with credit repair plans after bankruptcy.

You will be better off starting on this credit repair plan the moment you have ended the filing process for bankruptcy. The first step to take is to try and save at least a few hundred dollars in your bank account. Once a month has passed after the bankruptcy, make sure you go through your credit report to check for any errors.

This check is very important and many people neglect to do so. It is possible that companies forget to mark your account as included in bankruptcy and they may have left the term overdue or still open. This statement must be put to date, so keep contacting the manager who is responsible for you case until they change this title. It this is not done your credit history will show up as if you still have debts and it can last for years after your bankruptcy, so make sure you deal with this issue as soon as possible.

Your next step will be to use the money that you have managed to save in your bank account to obtain a secured credit card from the bank. Once a period of twelve to eighteen months is over, this credit card will be transformed in unsecured card if you have continued with your monthly payments on time.

Once nearly a year is over you can start looking for a small secured loan in order to make your monthly payments on time and avoid unpaid debts. A financial and credit history is composed of both loan payments and card payments, this is why having both of these types will allow you to keep all issues covered and dealt with.

Obviously the most important issue after bankruptcy is to make all your payments regularly and not fall into debt again. This is the basis for any successful credit repair plan after bankruptcy. The more information you gather about credit repair plans the more successful your reconstruction work for your financial situation will be.