I came across an article today talking how to build credit from scratch.

Build Credit From Scratch

I wanted to share it since

gives you a look at where to

start when you want to

build credit from scratch.

It got me to thinking  about

the biggest challenges that I

faced after filing

chapter 7 bankruptcy were to build credit from scratch.

Once I got my discharge I really had no idea where to begin.

I spent money at seminars wanting to build my credit from scratch.

I started working as a licensed loan officer seeing first hand how credit works.

Whether you are new to credit or rebuilding  credit it takes time to build your

credit from scratch.

Source MSN Money- How to build credit from scratch

"Whether you are just starting out or starting over, figuring out how to build credit can be confusing. Don't let it overwhelm you. There are some simple steps you can take right now to establish credit. Before you know it, lenders will be chasing you with offers."

Here are the steps the article gives on how to build your credit from scratch:

1. Check your credit to build your credit from scratch.  The article states that you

should do this even if you have never applied for credit.  This ensures that you know

what on your credit because you could have been a victim of identity theft.

2. Get your first credit reference  to build your credit from scratch.  I agree with the

article about getting a secured credit card to start to build your credit from scratch.

This was on of the first things I did to start to rebuild my credit after my bankruptcy.

3.  Use it but don't abuse it when you build your credit from scratch. The article goes

on to suggest using your secured credit card for gas or groceries to build your credit

from scratch.

4.  Pay your bills on time each month to build your credit from scratch.  This is one

of the best habits to start when you build credit from scratch.  Part of your credit

score takes into account paying your bills on time.

5. Round out your references to build your credit from scratch.  After you have

established new credit.  You will want to apply for different types of credit.  The

article gives a couple of examples.  After I got my secured credit card I purchased a

car.

6. Monitor your credit and scores when you build your credit from scratch.  You

want to make sure that each year you get your free copy of your credit report.  I

suggest that you also go to www.myfico.com and purchase your credit report with

your score so you know your current score.

Build credit from scratch with great care to ensure you are ready to maintain your

new credit.

For more ways to build credit from scratch check out

www.totalprosperityclub.com.

Are you ready to build credit from scratch???

Your Financial Coach,

Renee Lawson

Recommended Resources:

FREE Video reveals one amazingly simple thing you can do to increase your credit score. Check out the video at www.totalprosperityclub.com.

New Book Coming: www.sexliesandcredit.com.