Expert: David - 4/22/2009

Question
I filed a bankruptcy last September [2008]. One of the credit cards I had was from Bank of America. I currently have a checking account with BofA, but I'm wandering whether I should try to switch to another bank. I tried to get a pre-paid credit card from them and was denied, so I'm thinking that it will be very hard to get a loan (for a house or a car) from them in the future. Would I be better off getting a fresh start with a new banking institution?

Answer
Hi Jose.  Getting credit at any bank will be near impossible for several years if you do nothing to rebuild it.  BOA is a good bank for their banking programs, just not for getting credit cards for bankruptcy recovery.

I wouldn't look to change banks if your happy with them.  You just need to look elsewhere to fix your credit.  If you do it correctly it will take about a year.


Start by getting help with repairing your reports at www.financialscoringsolutions.com

Call me if you want a walk through in more detail of how to raise your score.

David McArthur
219-718-8566
financialscoring@sbcglobal.net