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What happens if you stop paying your credit card bill?

your credit will be screwed... and it will take a long time to get good credit agian.. your credit will be screwed... and it will take a long time to get good credit agian.. your credit will be screwed... and it will take a long time to get good credit agian..


Can you get credit after bankruptcy?

Yes. It is more difficult, but it is also ESSENTIAL to recovering from bankruptcy. You must take out credit and have precise, on time payments in order to help rebuild your damaged credit score post bankruptcy.


What are the downsides of a bad credit loan?

It depends on how desperately you need the loan. If you are desperate for the loan, then you should take the bad credit loan, as it may be your only option. However, if you can, it is better to slowly rebuild your credit.


How can you rebuild your credit after bankruptcy?

The only way to rebuild credit after bankruptcy is to take out credit. But it must be done in an incredibly TIMELY and controlled manner. For instance, taking out credit cards in which you maintain a small balance and make many exact and timely payments. Basically showing that you can take out credit and control it pushes your score up. Any type of default in payment amount or time will hurt your score further. The article below lists a number of pointers for helping in this process.


How long does it take to improve your credit score if you follow all the generally recommended steps?

It can take about a year to fully take care of your credit.