How can I rebuild my credit score after filing bankruptcy?

There are several steps you can take to get back on the road to good credit immediately after filing bankruptcy.

1. Apply for a new credit card. If you cannot get an unsecured card, you may be able to get a secured card. Secured credit cards are a great way to restablish credit. A secured card requires a cash collateral deposit that becomes the credit line for the account. So if you put $500 in the account; you can only charge up to $500. You may be able to add to the deposit to get more credit, or sometimes a bank will reward you for good payment and add to your credit line. Make sure the credit card reports to credit reporting agencies so that they effect your credit score.

2. Get a copy of your credit report after you are discharged. Make sure every debt that was included in your bankruptcy and discharged reflects a zero balance – not a late payment or chargeoff. Creditors often fail to report information consistent with forgiveness of the debt. Report any errors to credit agencies.

3. Use the credit cards and make all payments on time.

4. Get a co-signor. Banks will be much more willing to extend credit and you will still be the primary account holder.

5. Avoiding further credit reversals.  This include actions like foreclosures, judgments, collection actions, evictions, and tax liens.

Rebuilding your credit is an important step toward reaching financial stability. For more information, contact a Seattle Bankruptcy Lawyer.

Weitz Law Firm, PLLC
520 Kirkland Way, Ste 103
Kirkland, WA 98033



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