bankruptsy question?

has anyone who has had a bankruptsy that has been discharged been able to rebuild your credit and if so, how long did it take and have you been able to buy a house? Do you have any tips on how to get your credit rebuilt and now while self employed, both I and spouse....can we still build that credit and eventually buy a house?

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  • Anonymous
    1 decade ago
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    I haven't declared bankrutpcy, but I have been in consumer finance for over 31 years.

    If you have declared bankrutpcy, it will be at least four years before you can qualify for a conventional home mortgage loan.

    You may be able to qualify for an FHA home mortgage loan after two or three years.

    It's important that you immediately change your spending habits so that you can create a history of paying your bills on time every single month.

    Also, you need to learn the discipline of saving money regularly.

    If you cannot learn how to do these two things, you will not be able to buy a house.

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