Tuesday, May 26, 2015

What is a bankruptcy discharge and how do I restore my credit after bankruptcy?

A Bankruptcy Discharge is a Court Order allowing the debtor to wipe out dischargeable debts. Some debts such as student loans, child support and the like are not discharged in bankruptcy.

 The best way to restore your credit after getting a discharge in bankruptcy is to stay current on your non-dischargeable debts (keep making mortgage or car payment on time. If you are allowed to get a credit card with a small credit limit, use it to pay small bills. However, pay the monthly credit card bill ON TIME and IN FULL, no more minimum payments!)

No comments:

Post a Comment