Rebuilding Your Credit
Many years ago, filing for bankruptcy often severely damaged the debtor's credit. Fortunately, things have changed. In most cases today, Chapter 7 debtors are able to effectively rebuild their credit within a short period of time.
In many cases, just eliminating the debt through discharge will cause the credit score to rise following the bankruptcy. The debtor can also take certain steps, at the conclusion of the bankruptcy, to bolster the credit score.
Here are some effective ways to help rebuild credit after a bankruptcy:
- take out a small amount of credit
- keep the balance low
- make all payments on time
- don't open numerous accounts within a short period of time
- check your credit report to make sure it is accurate
- take steps to remove inaccurate items from the credit report
As part of the services we provide to our clients, we provide tips and recommendations for rebuilding the credit at the conclusion of every bankruptcy case. If you would like to know more about this or any other debt relief matter, please contact us online or call for a free consultation at 815-788-9511.