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Few good answers here.
Joe nailed this one!
Open a small account and makes payments on it then pay it off. Get a credit card or two. Try to finance a car. Be current on all accounts. In time they will have great scores again.
They can get a car loan or two, it doesn't matter the rate, also if they can't get any credit cards, have them get 2-3 secured cards. They also need to make sure all the old stuff has been handled in their credit report.
24 months after a BK they can buy a home, subject to re-established credit and income.
Get a credit card even if it has a $500 limit. Use it every month and never be late for a payment. Pay it off in full. Eventually they'll qualify for a second card and they should get as many (3 or more) as they can, using each and paying each in full every month. Keep calling to increase the credit limit on the cards as the companies will permit. The allowed credit total, even on unused cards, is a huge factor in raising your FICO provided you are perfect in your payment column. They might qualify for a loan now if they started doing that within a year of bankruptcy. I helped friends do that in 3-4 years.
if they had a bankruptcy 3 years ago, they are already on route to re-establishing.... they should sit with a mortgage person and establish a routine of using one credit card and paying it off every month.... they can get a credit card at a bank by using funds as collateral and their line of credit....
It is not difficult. However, it is not instant.
The approach to building solid, valid credit is multifaceted, sequential and needs a written approach.
Way too much for a Q & A session.
Here is what I recommend you do, then share with these citizens.
Use Big G and find a few printed plans to use as a guide.
You will find they all begin with establishing small, but multiple lines of trade, and actually using them for recurring expenses such as home office supplies or that monthly trip to Cosco. A trade level of $100 monthly is IDEAL Always pay majority payments but never pay off.
There are three other things to do, maybe only two for your folks. Get the guides for re-establishing credit or getting qualified for business credit.
It not a mystery, and you will find, with an actual plan in their hands, these citizens will actually smile.
Of course, you can always refer them to your 'go-to" at BB&T.
Time, low balances on card (not zero balances), timely payments, and more time. Credit scores are quick to fall and sllooowww to rise.
Use the credit they have conservatively, and pay off the credit card balances monthly. Not using credit isn't the answer - using it slowly and wisely, is the only way I know to pay build scores up. I went bankrupt in the 1980's...it is possible to re-build but it DOES take time.
This is not an unusual situation. A business loss can lead to a personal bankruptcy even though the personal credit is perfect.