How to Rebuild Your Credit After Filing for Bankruptcy

Did you know that applying for bankruptcy may actually be the first step in rebuilding your credit.

When you are behind in your bills, your credit rating has already taken a hit. When you file for bankruptcy, all your prior credit problems have been resolved because the debts don’t show that your credit problems haveRebuilding Credit After Bankruptcy been resolved.

The real question then is, are you credit worthy?

Each creditor is different and banks and credit card companies look at different rules for determining credit worthiness.

One of the steps that you can take to restore your credit are:

  1. Paying your bills on time for one to two years after filing bankruptcy.
  2. Obtaining a secure credit card where you deposit money in a bank that uses your credit card as part of the collateral.
  3. Open a savings bank account.

These are three tips on how you can rebuild your credit. Do you need more advice for rebuilding your credit, and think bankruptcy may be the right decision for you and your family? Contact us today for a free evaluation of your circumstances.

 

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