3. Avoid overspending and create an honest and realistic budget.
To avoid getting into financial problems in the future, you must understand
your flow of income and expenses. A realistic budget is your best weapon
4. How long does it take to rebuild credit?
If you follow the steps outlined above, it will take about two years
to rebuild your credit so that you won't be turned down for a major
credit card or loan. After around four years, you should be able to
qualify for a mortgage.