7 Tips For Establishing Your Credit Again After Filing For Bankruptcy

Many people believe that once they file bankruptcy they will never be able to get credit or purchase a home again. This is simply not true. Even with recent changes to the law the United States still has one of the most lenient bankruptcy programs in the world. Filing for bankruptcy can be emotionally and psychologically draining and difficult for you and your family, but if you know what to do you will be able to get on the right track again after a short time. here are 7 tips to help you in establishing crdit again after you have filed for bankruptcy:

1. Start to re-establish your credit as soon as possible after your bankruptcy is discharged. Ask your attorney to tell you when your case has been formally discharged. It will usually be two or three months after you go to court to discuss your case with the judge or the courts representative. Many people believe that they must wait seven years to apply for any type of credit again. You only need to wait until your case has been discharged.
2. Apply for credit at two or three places each month. If you apply to more places than that you will most likely be turned now. Many places, including national retailers, are willing to extend credit lines with limits of $200-$500 to those who have filed bankruptcy. Other places, such as furniture stores, tend to not give credit under the same circumstances. If a store turns you down for credit, wait six months and apply again.
3. Keep track of where you have been applying and what the outcome was each time. Make a chart to help you stay organized. This will keep you from applying to the same place more than once or to apply too many times in a given month.
4. Avoid credit cards with companies that charge a high annual fee or require you to pay in advance. You do not have to accept those kinds of terms to establish yourself again. Make it a practice to only accept credit from companies with no annual fee.
5. Pay your monthly obligations promptly. Your credit report will now be highly scrutinized so you should pay each bill as soon as you receive it. Also, pay slightly more than the required monthly amount. This shows that you are able to pay on time and that you have sufficient income to meet your monthly obligations. Request your credit report from the large credit reporting companies about every three months. These reports are usually less than $10. Do NOT request information for free when you are denied credit. This can hurt your credit score, at least in the short run. If there are errors on your report write the company a short letter describing what is mistaken in their information. They are required by law to investigate your claim and notify you of the outcome. You do not need to pay a company to do this for you. Those companies cannot do anything for you that you are not able to do for yourself.
6. Keep a chart showing each account you have, how much is owed, and the date the payment is due each month. Try not to owe any place more than about 20-25% of your credit limit with that company.
7. Realize that you are fortunate to live in a country where you are able to have second chance to prove your financial worthiness. Avoid making purchases of item you cant truly afford, such as expensive electronics or vacations. Make it a practice of saving at least 10% of what you bring home each month (your net income) and you will always have money for emergencies.

By following these tips you will be able to establish your credit again and go on to buy a home, car, or other items that will enrich your life and help you to build a solid foundation for your future. Many mortgage companies will give a home loan to someone who has had a bankruptcy discharged at least six months before they are applying. Although you must always disclose that you have filed bankruptcy, and it will stay on your credit report for seven to ten years, there is no reason that you cannot begin to enjoy the convenience of having credit again. This will make it easier for you to receive better interest rates and terms because you are showing that you can be financially responsible.

Connie Ragen Green is a Real Estate Broker and State Certified Residential Appraiser in California and has bought and sold over 100 properties since 1983. Visit her at http://www.BuyRealEstateforProfit.com for more information about buying and selling real estate.

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Botulism Recall - What You Need to Know

Although most foodborne illness is called Food poisoning by the common man, most sickness caused by food is not poisoning, per se, but bacterial infections that are ingested by eating affected food. However, there has been recent news of a bona fide food poisoning outbreak. Four victims have been sickened with suspected botulism after ingesting hot dog chili sauce thought to contain the toxin. 10-ounce cans of Castleberry's, Austex and Kroger brands of hot dog chili sauce with "best by" dates from April 30, 2009, through May 22, 2009 are suspected to be the ones affected, according to the Food and Drug Administration.

It is extremely rare for a commercially canned product to contain the botulism toxin, which is so deadly that one drop of pure toxin can kill 20 people. Centers for Disease Control and Prevention medical epidemiologist Dr. Michael Lynch said the last such U.S. case dates to the 1970s. The approximately 25 cases reported each year to the CDC usually involved home-canned foods, Lynch said.

Botulism is a rare but serious paralytic illness caused by a nerve toxin that is produced by the bacterium Clostridium botulinum. There are three types of botulism: foodborne botulism, wound botulism, and infant botulism. From the CDC website:

Clostridium botulinum is the name of a group of bacteria commonly found in soil. These rod-shaped organisms grow best in low oxygen conditions. The bacteria form spores which allow them to survive in a dormant state until exposed to conditions that can support their growth. There are seven types of botulism toxin designated by the letters A through G; only types A, B, E and F cause illness in humans.

About 110 cases of botulism are reported each year in the United States. Of these, only 25% are foodborne. Foodborne botulism usually results from improperly home canned foods, especially foods with a lower acid content, such as such as asparagus, green beans, beets and corn. Higher acidity in foods can help prevent foodborne infections and toxins.

Botulism can be prevented. Home canners should always follow strict hygienic procedures to reduce contamination of foods. If home canners have any questions about home canning procedures, they should obtain instructions for safe canning from county extension offices or the U.S. Department of Agriculture. Oils infused with garlic or herbs should be refrigerated. Potatoes which have been baked while wrapped in aluminum foil should be kept hot until served or refrigerated. Because the botulism toxin is destroyed by high temperatures, persons who eat home-canned foods should consider boiling the food for 10 minutes before eating it to ensure that it is safe.

Honey can contain spores of Clostridium botulinum and this toxin has known to be a source of infection for infants; therefore children less than 12 months old should not be fed honey. Honey is safe for individuals 12 months of age and older. Wound botulism can be prevented by promptly seeking medical care for infected wounds and by not using injectable street drugs.

Foodborne botulism is most commonly found in foods that have been canned; therefore it is vital that not only do home canners regard food safety most highly, but that commercial cans that are bulging, severely dented, or severely rusted are discarded and not used. If foodborne illness is suspected, a person should seek medical care immediately. From the CDC website:

The classic symptoms of botulism include double vision, blurred vision, drooping eyelids, slurred speech, difficulty swallowing, dry mouth, and muscle weakness. Infants with botulism appear lethargic, feed poorly, are constipated, and have a weak cry and poor muscle tone. These are all symptoms of the muscle paralysis caused by the bacterial toxin. If untreated, these symptoms may progress to cause paralysis of the arms, legs, trunk and respiratory muscles. In foodborne botulism, symptoms generally begin 18 to 36 hours after eating a contaminated food, but they can occur as early as 6 hours or as late as 10 days.

The respiratory failure and paralysis that occur with severe botulism may require a patient to be on a breathing machine (ventilator) for weeks, plus intensive medical and nursing care. After several weeks, the paralysis slowly improves. If diagnosed early, foodborne and wound botulism can be treated with an antitoxin which blocks the action of toxin circulating in the blood. This can prevent patients from worsening, but recovery still takes many weeks. Physicians may try to remove contaminated food still in the gut by inducing vomiting or by using enemas. Wounds should be treated, usually surgically, to remove the source of the toxin-producing bacteria. Good supportive care in a hospital is the mainstay of therapy for all forms of botulism. Currently, antitoxin is not routinely given for treatment of infant botulism.

Do you know what you need to know about food safety? Are you calm and secure, even during a food recall? Do you know how to prevent food poisoning? If not, click here

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