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Establish your credit early

Getting the ideal mortgage

What is a credit report ?

Why consolidate your credit cards ?

The importance of establishing credit

Keep your credit clean and enjoy a great mortage Deal

How to steer clear of bankruptcy ?

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Bankruptcy should be the last option to available to anyone who finds themselves in financial difficulties. Bankruptcy means that you are totally broke and have nowhere else to turn. If you declare bankruptcy, you are totally destroying your credit record. Even if you have poor credit because of missed payments, there is still the possibility of restoring it.

Once you file for bankruptcy, any assets for which you had secured loans will be taken and sold. This could mean your home and car. Bankruptcy shows up on your credit record and sends a signal to lenders that you are a bed risk and nine chances out of ten you will be refused a loan. A bankruptcy item stays on your credit report for ten years.

Bankruptcy is a serious item to have on a credit report. You should follow every other available avenue before you take this step.