There's nothing more like doing it right the second time after you've blown a previous opportunity.
Why? You're stronger, more experienced, and most of all - you can't afford losing it again.
Truth be told, there's nothing as disturbing as having to file for bankruptcy, and for those who've been there before, they can testify that it's the point where you know that there's nothing you can do to salvage your situation.
In spite of this, I believe that you and I both see a possibility of getting things right now, else I won't have given you this and you won't be reading it.
Now that we're on the same page, understand that after filing for bankruptcy all your unsecure debts resets to zero.
Though the negative effects will impact you for a period of time, as this time progresses so the effects will begin to wear-off.
All your collections, charge-offs, inquiries, repossessions, court judgments, late payments and such will be wiped off.
This automatically gives you a clean bill of credit health.
One of the strategies you'll be using in order to build a good history as you restore a fresh credit status is to reduce your expenses on your cards.
Your best bet for the most positive impact is to keep such expenses on your credit cards below 20% of the total amount allowed you.
Understanding how much you earn as income in relation to a budget expense for every month is very crucial.
You want to include any debt that needs to be paid for a particular month as part of the expenses for that month.
This is one of the ways you ensure that you do not drift-off to the distressed lane again.
It is also advisable that you have a restoration kit as a kind of guiding document that you can always refer to in the event that there's an issue such as an erroneously reported account.
This keeps you abreast of when a creditor, bureau or collector for that matter is violating your rights.
Why? You're stronger, more experienced, and most of all - you can't afford losing it again.
Truth be told, there's nothing as disturbing as having to file for bankruptcy, and for those who've been there before, they can testify that it's the point where you know that there's nothing you can do to salvage your situation.
In spite of this, I believe that you and I both see a possibility of getting things right now, else I won't have given you this and you won't be reading it.
Now that we're on the same page, understand that after filing for bankruptcy all your unsecure debts resets to zero.
Though the negative effects will impact you for a period of time, as this time progresses so the effects will begin to wear-off.
All your collections, charge-offs, inquiries, repossessions, court judgments, late payments and such will be wiped off.
This automatically gives you a clean bill of credit health.
One of the strategies you'll be using in order to build a good history as you restore a fresh credit status is to reduce your expenses on your cards.
Your best bet for the most positive impact is to keep such expenses on your credit cards below 20% of the total amount allowed you.
Understanding how much you earn as income in relation to a budget expense for every month is very crucial.
You want to include any debt that needs to be paid for a particular month as part of the expenses for that month.
This is one of the ways you ensure that you do not drift-off to the distressed lane again.
It is also advisable that you have a restoration kit as a kind of guiding document that you can always refer to in the event that there's an issue such as an erroneously reported account.
This keeps you abreast of when a creditor, bureau or collector for that matter is violating your rights.
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