by Mack » Tue Mar 25, 2014 4:59 am
You will not be able to get a loan at the present time. Creditors will not want to take a chance.But they will start to contact you in about six months to a year to offer a credit card. They know that you will want to rebuild your credit. You will probably get an offer for $500 to $1,000 credit line.This is the time to start rebuilding your credit score by using the card and paying off the balance each month.I have had clients file for bankruptcy, get a credit card offer within six months, be able to get an auto loan within two years, be almost back to normal in about 3 years.It will take about 8 to 10 years for your credit score to recover, but it will as long an you have no more late payments or failure to pay.Patience is the rule here. You can not rush the process. WEALTHADVISOR 8 months ago