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What can be done to build credit history after filing bankruptcy?
After filing bankruptcy, it is extremely important to be very careful to pay bills in full and on time. Missed payments or carrying credit card balances can negatively impact credit scores.
If a credit card is discharged in a bankruptcy should it still show a balance on a credit report?
It will remain on the report for the required length of time and should be marked "included in bankruptcy."
When should I open a credit card?
You should consider opening a credit card when you have a steady income, understand how credit works, and can responsibly manage your spending and payments.
If you file bankruptcy will that remove a charge off report from a credit card?
Filing bankruptcy does not remove a charge off report from a credit card on your credit report. It just adds bankruptcy to your credit report.
What is the total amount of monthly credit card payments?
The total amount of monthly credit card payments is the sum of all the payments made towards credit card bills in a month.
Can I get credit cards after bankruptcy?
It is possible to recover from a bankruptcy. You should start by getting a secured credit card to rebuild credit. After about seven years you should be able to find a standard credit card that will allow you to get a card.
If you are an additional card holder on a parent's credit card account and you file bankruptcy will the bankruptcy appear on their credit?
The bankruptcy will appear on their credit if you include this card in your bankruptcy. If you leave the card off the bankruptcy, it will not effect their credit.
If an account is closed by a credit grantor why would the card holder continue to make payments after bankruptcy findings are closed?
The card holder is under no legal obligation for the card holder to continue making payments after filing for bankruptcy, unless the case is dismissed without a discharge. There are some who believe that they can improve their credit rating by pay off debts that were discharged in a bankruptcy, but I believe there are better methods to reestablish credit after bankruptcy.
What can be done to build credit history after filing bankruptcy?
After filing bankruptcy, it is extremely important to be very careful to pay bills in full and on time. Missed payments or carrying credit card balances can negatively impact credit scores.
If a credit card is discharged in a bankruptcy should it still show a balance on a credit report?
It will remain on the report for the required length of time and should be marked "included in bankruptcy."
When should I open a credit card?
You should consider opening a credit card when you have a steady income, understand how credit works, and can responsibly manage your spending and payments.
Can you charge on a credit card that is in your bankruptcy AFTER actually filing bankruptcy?
"Whether a debtor keeps credit cards after filing bankruptcy is up to the credit card company. If you are discharging a credit card they will cancel the card unless you reaffirm the debt. Even if you have a zero balance the credit card company might cancel the card."
Are there any types of credit cards one can get if they have declared bankruptcy?
When in bankruptcy it is not possible to have a credit card. Once the terms of the bankruptcy have been met, some credit card companies will consider issuing a credit card to some people.
If you file bankruptcy will that remove a charge off report from a credit card?
Filing bankruptcy does not remove a charge off report from a credit card on your credit report. It just adds bankruptcy to your credit report.
How can merchants process credit card payments in the event of a power failure?
Credit card payments cannot be processed in an event of a power failure. This is solely because the credit card payment requires a technical device which uses electricity. However alternative payments should be implemented as well as a power generator should be looked into.
What is the total amount of monthly credit card payments?
The total amount of monthly credit card payments is the sum of all the payments made towards credit card bills in a month.
Is an authorized credit card user responsible for credit card debt if the primary card holder declares bankruptcy?
No. The card holder is responsible for all debt on the credit they extended to him. (You may be responsible to the credit card holder for the debt he incurred for you, if that was your agreement).
