Technology Slice Blog

Check your Credit History - Do you have questions about improving your credit? Here are some frequently asked questions: • Is my credit forever ruined by a bankruptcy or foreclosure? • A bankruptcy or civil judgment will stay on your credit report for 10 years, but it is a weighted scale, the older it gets, the less impact it has on your credit. The irony of a bankruptcy is that while it is bad for your credit score, it actually improves your debt to income ratio, which is an important factor for obtaining loans. After filing bankruptcy, you have only the debt you choose to keep, and are in a better financial position to take on new debt, as there is no longer the older debt hanging over your head. Check your Credit History • What are some of the things I can do to improve my credit after bankruptcy or a foreclosure? • Pay all bills on time. Note that payments less than 30 days late are not generally reported to the credit bureau. • Try to keep your credit card balances ...