CALL FOR A FREE
INITIAL CONSULTATION
813.254.5696

BRIDGING YOU TO A BRIGHTER FUTURE

How to Build Credit after Bankruptcy

Bankruptcy is an effective tool for helping you regain financial footing after a difficult financial struggle. It is a process that allows you to organize your debt and in some cases, alleviate certain types of debt completely. Bankruptcy is temporary and once your bankruptcy is discharged, you will need to take action to re-establish your standing in the financial world. This process begins during your bankruptcy and continues in the months and years following the discharge.

What are some of the most important steps you can take to build your credit following a bankruptcy?

As you might have guessed, the most important thing you can do is avoid the financial mistakes that led to your bankruptcy. Wise financial decisions require careful planning and financial restraint. Though some financial hardship is unavoidable, smart choices make it easier to rebuild your financial standing.

Prove You Can Handle Debt

If you were allowed to keep your home and car during your bankruptcy and you have a mortgage and/or car loan, it is essential you keep up with these payments during your bankruptcy. Make sure you speak with your bankruptcy attorney and the bankruptcy court about the amount you owe on these personal possessions. These loans are a good tool for helping you rebuild credit and if you are lucky enough to keep them during bankruptcy, do not take the situation for granted.

Secured credit cards can be somewhat controversial, but they can help you re-establish credit. In order to use a secured card, you must first deposit a payment to the card company. Make sure any secured card you use reports to all three national credit bureaus on a monthly basis so your efforts are not wasted. Use the card sparingly and keep any balance as low as possible on the card.

When you begin to receive regular credit card offers again after your bankruptcy, apply for the one that offers the best rate and terms. You will no longer need the secured card and can use this standard card to help you rebuild credit. Again, make sure payments are made on time and keep the balance low.

Stay on Top of Your Credit Status

Finally, periodically check your credit information to ensure it is accurate. You can request a copy of your credit report from each of the three national credit bureaus one time per year for free. As someone rebuilding after bankruptcy, you might want to check your reports more frequently in the first few years you are getting back on your feet.

The bankruptcy discharge should appear on your credit reports within 60 days. If it does not you should contact the reporting agency and request an update. Also make sure you dispute anything erroneously listed on your report.

Are you facing a financial struggle? It is possible to get back on your feet and rebuild your life. Contact the Law Offices of Robert M. Geller at 813.254.5696 for help managing your situation and making choices that will help you have a brighter financial future. The Law Offices of Robert M. Geller, P.A. offers a credit education program after a bankruptcy discharge to all of their clients. In many cases this program will teach you how do get back to a 720 score in 12 to 24 months.

How to Discuss Bankruptcy with Family and Friends
Is it Possible to File for Bankruptcy More than On...

Related Posts

Contact Us

First Name

Invalid Input
Zip Code

Invalid Input
Last Name

Invalid Input
Phone

Invalid Input
Email

Invalid Input
Case Details

Invalid Input
Security Code *

Invalid Input



For The Next 5 Days Get A Free Book About Bankruptcy



Contact Us For
More Information

Tampa Bankruptcy Attorneys - Law Firm Profile


Tampa Bankruptcy Attorneys - Law Firm Profile
Tampa Bankruptcy Attorneys - Law Firm Profile

Chapter 7 Bankruptcy in Tampa - Robert Geller Bankruptcy Lawyer
Chapter 7 Bankruptcy in Tampa - Robert Geller Bankruptcy Lawyer

Chapter 13 Bankruptcy Lawyer in Tampa, FL, Robert M. Geller Attorney
Chapter 13 Bankruptcy Lawyer in Tampa, FL, Robert M. Geller Attorney

Creditor Harassment - Robert Geller Tampa Bankruptcy Attorney
Creditor Harassment - Robert Geller Tampa Bankruptcy Attorney
 
comodo 10.0Robert Marc Geller
Robert Marc GellerClients’ ChoiceAward 2017 Robert Marc GellerReviewsout of 32 reviews

We are A Debt Relief Agency.
We help people file for
bankruptcy under the Bankruptcy Code

Pay Online    

Office Locations

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405
Maps & Directions


Tampa Law Office Map

Satellite Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G

St. Petersburg, FL 33701
T: 727-532-3939
Maps & Directions


Map and Directions

At the Tampa Bay law firm, the Law Offices of Robert M. Geller, P.A., we help people with consumer bankruptcy matters in the Tampa Bay-St. Petersburg,  Florida communities such as Clearwater, St. Petersburg, Thonotosassa, Riverview, Lutz, Plant City, Brandon, Carrollwood, Wesley Chapel, St. Petersburg Beach, Lakeland, Mulberry, Dade City, Pinellas Park, Largo, Seminole, Odessa, Oldsmar and Lithia, and counties such as Hillsborough County, Pinellas County, Pasco County, Polk County and Manatee County.