Posted on 05 30,2015
Your foreclosure can have an immediate effect on your credit score and your ability to obtain another mortgage for a certain amount of time. Your (FICO) credit score is usually the first things a potential lender will look at when applying for a loan.
Posted on 11 26,2013
Bankruptcy is a legal process geared to help an individual eliminate all outstanding debt so that he or she can get a fresh financial start on life. Filing for bankruptcy can provide an untold amount of relief to an individual who has been struggling to win a losing financial battle. While there are numerous benefits to bankruptcy, one downfall is that bankruptcy will have a negative impact on a person's credit score. On the positive side, it will not be permanent. If you have completed the bankruptcy process and your debts have been discharged by the bankruptcy court, your next step is to start rebuilding your credit score. Here are 5 tips that can help: