Tips for Rebuilding Credit After Filing for Bankruptcy

There are plenty of ways to explore that will help rebuild your credit after filing for bankruptcy. To learn more about these steps, continue reading and reach out to our experienced New York bankruptcy firm. We will walk you through the process ahead. If you have any further questions about filing for bankruptcy and the impact your credit may see, do not hesitate to give our firm a call today. Here are some questions you may have:

What steps should I take to rebuild my credit after filing for bankruptcy?

One of the cons of filing for bankruptcy is how the process may affect your credit. However, now that you can enjoy a sigh of relief that the filing process is complete, this is the perfect time to focus your energy toward rebuilding your credit to see it bounce back. The top tips for rebuilding credit after filing for bankruptcy include the following:

  1. The first step you should take to rebuild your credit after filing for bankruptcy is to pay off all of the accounts that were not discharged by bankruptcy. This may include personal injury lawsuit payouts, student loans, and more.
  2. Next, you should attempt to get a new credit card. This might not be an easy process. However, you can rely on certain retail stores or gas stations to trust you with their credit cards, compared to standard credit card companies. It is important to know that you should not apply for several credit cards at once. Only apply for a card that you believe you have a shot at being accepted for.
  3. Make your payments on time every month.
  4. Show lenders that you have financial stability by maintaining a steady job.
  5. Don’t fall into the “credit repair company” trap.
  6. Have a co-signer on your loans or cards. It is important to maintain a meticulous payments record with a co-signer. Failure to make payments on time could not only hurt your credit, but your cosigner’s as well.

Within 10 years of filing for bankruptcy, your filing will be wiped off your record for good. If you have any further questions about rebuilding your credit after filing, do not hesitate to reach out to our firm today for assistance. We would be happy to help. Give our firm a call today.

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.