Bankruptcy is a great tool to help people pay off their debts and move on with their lives, however, it’s no secret that filing for bankruptcy can hurt your credit. Fortunately, there are several ways to rebuild your credit after filing for bankruptcy. Read on and contact our Rockland County bankruptcy attorney to learn more.
What can I do to rebuild my credit after filing for bankruptcy?
Fortunately, there are several steps you can take to rebuild your credit after filing for bankruptcy, and most of them are fairly easy! Some of the best steps you can take to begin rebuilding credit are as follows:
- Work to pay off all accounts that were not discharged by filing for bankruptcy, such as student loans, if you have any.
- Try to get a new credit card. In some cases, people who’ve filed for bankruptcy will find this difficult, but it’s not impossible. If you have difficulty, you may have more luck getting a credit card from a gas station or a retail store. Don’t apply for several at once, however. Apply for one at a time, starting with a card you think is most likely to accept you.
- Don’t miss any payments. This is paramount. Making payments on time is a fool-proof way to improve your credit score and will help ensure you don’t rack up any more debt.
- Keep a steady job. Showing lenders that you are a consistent person who can stay at a job for a year or more will surely help improve your credit.
- Never hire a “credit repair company” to help. These are almost always scams or otherwise overall won’t work to your benefit.
- If you can’t get credit, get a co-signer on your loan or card. If you do get a co-signer, however, you must ensure you make all these payments on time. If you don’t it will hurt your credit as well as your co-signer’s credit.
How long will it take for bankruptcy to be wiped off my record?
Some people assume that once they file for bankruptcy, it’ll be on their record forever. Fortunately, our firm is happy to say that this simply isn’t true. In most cases, after 10 years, bankruptcy will be completely wiped off your record. If you have any additional questions about the bankruptcy process, how to rebuild your credit, or anything else concerning bankruptcy in New York, pick up the phone and give us a call today. We are here to help you in any way we can.
Contact our experienced New York firm
Bankruptcy, for many people, is a frightening endeavor. Fortunately, with the help of an experienced attorney, it does not have to be. If you require the services of an experienced Business Law or Bankruptcy attorney, contact the Law Offices of Allen A. Kolber, Esq. today to schedule a consultation and discuss your options. We will have your back every step of the way.