| Author: |
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Stephen |
| Date: |
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August 27, 1999 |
| Question: |
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After someone has declared bankruptcy, what steps
should they take to re-establish their credit rating?
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From: |
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Shane Brenneis, Collins Barrow Limited |
| Date: |
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August 31, 1999 |
| Answer: |
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There are a couple of things an individual can do:
- save a sum of money, say $1,000, and go to a bank and ask them to lend you $1,000 and you will put your $1,000 as a deposit. You then repay the funds and ask the bank to give you a favorable rating
- you can also obtain a "secured" credit card by putting funds on deposit. You again meet the terms of the cardholder agreement and are working to reestablish your rating.
Shane Brenneis
phone: (403) 298-1575
sbrenneis@collinsbarrow.com
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