home loan vs auto loan
The fastest way to rebuild credit after bankruptcy?
Let say i filed bankruptcy, I want to rebuild my credit(720+) within 2-3 yrs. In order to do this, I need new debts which i can afford. These debts are called: Installment(auto loans, student loans or mortgages)and Revolving(credit cards or home equity lines of credit). I want to rebuild my credit while im in school, my plan is get a student loan(Installment) and 2 secured or unsecured credit cards[(Revolving)manage to spend only 30% each credit card and pay it off each month].
So, here’s my question: Which one will rebuild my credit the FASTEST? Student loan + 2 CCs VS. auto loan+student loan+2 CCs?
I don’t want a car loan and definitely can’t afford mortgage. I prefer Student loan and 2 CCs.
Other than my preference what else should i do?
Here’s the link for rebuilding credit after BK:
http://articles.moneycentral.msn.com/Banking/BankruptcyGuide/BounceBackFastAfterBankruptcy.aspx
Check out orchardbank.com
I filed last year and I got a cc with low interest even after Bankruptcy. Too much loans will not help score.
Go with 2 credit cards and keep paid off each month
I would wait one year than buy a car or you will get extremely high interest on loan. Check out daveramsey.com
You need to start new credit life by being debt free.
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