Credit After Bankruptcy

//Credit After Bankruptcy
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Oregon Home Purchase After Bankruptcy Filing

A personal bankruptcy does not have to bar an Oregon consumer from home purchase for very long.  Oregon bankruptcy filers  that went through a Chapter 7 bankruptcy must wait four years from the date of discharge before applying for a conventional loan. The waiting period, according to Fannie Mae, is just two years from discharge [...]

2018-05-15T00:34:15+00:00

Bankruptcy and Credit Score

Oregon bankruptcy filers with bottom of the barrel credit scores might find that the quickest and easiest way to increase their credit scores in the wake of a bankruptcy filing is to become an authorized user on a family member’s credit card. As an authorized user, you get the benefits of someone else’s credit but [...]

2018-05-15T00:39:05+00:00

Oregon FICO

It appears that the the new FICO 9 scoring model is going to be better for Oregonians with scant reporting and medical collection accounts. The new model distinguishes medical debt from non-medical debt. The upshot is that  Oregon consumers with unpaid medical collections could improve by as much as 25 points per account. Moreover, borrowers [...]

2018-05-15T00:46:49+00:00

New Product for Rebuilding Credit After Bankruptcy

Interesting development for Oregon bankruptcy clients trying to rebuild their credit after bankruptcy. No idea whether the product is really worthwhile, but Rent Track allows Oregon renters to have their rent payments factored into their credit scores. It requires only the renter and property manager to sign a form and the tenant them makes payments [...]

2018-05-15T00:51:48+00:00

Tips for Increasing Your Credit Score in the Wake of Bankruptcy

Using credit after bankruptcy is the best way to rebuild credit after bankruptcy. If you do want to join the financial mainstream, opening up lines of credit after bankruptcy discharge and paying them off every month in full is probably the best way to have a great credit score in as little as eighteen months [...]

2018-05-15T01:06:32+00:00

Steps for Rebuilding Your Credit Score After Bankruptcy

When it comes to rebuilding a credit score after filing bankruptcy, the truth is that you have already taken the most important step. After all, the ever more burdensome dead weight on your score, the barrier to you ever obtaining a decent score has now been removed permanently. If you want to really want to [...]

2018-05-15T01:52:41+00:00

Rebuilding Credit Scores After Bankruptcy Discharge

The elimination of debt through bankruptcy is probably the greatest step any consumer can take towards obtaining financial freedom. For most of our Oregon and Washington bankruptcy clients, eliminating the debts is only part of the process. While none of our clients are hellbent on obtaining another credit card, most of them have very realistic [...]

2018-05-15T01:53:32+00:00

How Your Debts Should Be Reported on Your Credit Report After Bankruptcy

Most of our bankruptcy clients are understandably concerned with how their debts are going to be reflected on their credit reports after discharge. After you obtain a discharge of your debts, certain facts about your discharged debts may continue to appear on your credit report. The Fair Credit Reporting Act requires consumer reporting agencies to maintain [...]

2018-05-15T01:55:24+00:00

FREE BOOK OFFER! (a $29.95 value)

The Benefits of Bankruptcy
You always hear scary things about filing bankruptcy, but the truth is, most people with debt problems benefit from it. This book dispells the myths and tells you how bankruptcy can put you back on the road to financial success.
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Written by Tom McAvity, Esq., bankruptcy lawyer
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