Filing for bankruptcy can be an important first step towards giving yourself the freedom you deserve. When you file bankruptcy and get relief from your debt, you no longer owe any money to your creditors.
In order to preserve your newfound financial stability, you must take care to rebuild your credit and avoid common pitfalls. If you take some simple steps to rebuilding your credit after bankruptcy, your credit score will start to rise. After as little as 18-24 months, your credit report can be a positive one.
Improving Your Credit Score
There are a number of things you can do to improve your
credit score, including the following.
· Acquire a
Secured Credit Card. It may seem counterintuitive, but in order to rebuild your
credit, you will need to take out loans and repay them. A secured credit card
gives you credit you need to start to rebuild your credit.
· Take out an
Installment Loan. An installment loan is any kind of a loan that requires
monthly payments, such as a car loan. You must make your payments on time.
· Check and
Correct Your Credit Report. After your bankruptcy has been discharged, check
your credit reports. Contact the credit agency where the mistake appears to
have it corrected.
Once you have completed a filing for Chapter 7 or Chapter 13bankruptcy your financial future is going to look brighter. King & King is
dedicated to helping clients file for personal bankruptcy and rebuild their
lives afterwards. For a free initial consultation, contact our office at
404-524-6400.
