I filed for bankruptcy in 2001. What do I need to do to get my finances back on track?
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Author: Q: I Filed a Chapter 7 in 2001. I Have a Couple of Other Things on My Credit. Where Do I Need to Start to Get My Credit On the Right Road?
A: A Chapter 7 Bankruptcy filing from 9 years ago is still on your credit records and thus impacts your credit rating. But frankly, it should have a limited overall impact on your credit ranking, given the long-ago time frame of your bankruptcy. Fortunately in another year or so, that bankruptcy will be dropped from your credit reports. In the meantime, the best thing you can do is to focus on paying all your bills on time and trying to clean up those other things on your credit you mentioned. If you have fairly recently collection accounts or late payments (i.e. within the past two years), try to bring them up to date. Reduce your credit card debt (if any) because that will almost certainly boost your credit score. Also consider getting a secured credit card, if you’re not able to get a regular credit card. That secured card is a good way to rebuild credit after you’ve had credit problems in the past.
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