A proof of funds in a piece of paper worth less then a penny and written on it are 26 letters arranged in an order to cause the lender to believe that it represents your ability to obtain money…
The key is in the arrangement of the 26 letters…
Not difficult…
Good Luck
This is a common question I hear and the answers start with the length and type of your employment, the longer you have worked at the same job the better. However, credit repair steps do not end with employment history.
First, keep in mind why you filed bankruptcy in the first place whether is was loss of job, illness, or divorce. If so, you are a good candidate for moving forward with establishing new credit. If you filed bankruptcy due to compulsive spending, gambling, drugs or alcohol, there is lifestyle or character issues that should be address or you will simply be repeating yourself quickly.
Next step is to apply for a secured credit card this can be done. By depositing money with a lender, your credit limit is usually the amount of the deposit. Note that this is different than a debit card, which has no element of credit lending, or credit history rebuilding record.
Pay any installment loans that you may have on time, especially secured loans like cars or mortgages. Each month you pay on time, it is reported to the credit bureaus.
After you have a secured credit card, get a store card from a gas company or department store. Use revolving credit lightly, but regularly. The mix of credit cards, installment loans, and store cards used and paid regularly on time, is the fast track to restoring your credit rating after bankruptcy, and can be accomplished in as little as two years in conjunction with a good employment history.
Thanks for sharing information regarding FICO. Isn’t it two years a long time to restore that?
I have heard of some great companies that doing amazing work with credit restoration.
I have no witnessed it as of yet, but hopefully soon enough. I am not sure what the rules are with referring you on here and I do not want to play with fire.
Anyone know if I am allowed to put a company name if I have no affiliation with them?
I don’t see why not. Just as long as your not selling it you should be fine.