3 ways to rebuild credit following a bankruptcy | Milwaukee, WI

BREAKING NEWS:   U.S. Department of Justice announces new rules to discharging federal student loans. Find out if you qualify TODAY!

Milwaukee 414-250-7880         Madison 608-465-4594         Green Bay 920-626-3125

Serving all of Wisconsin
Toll-free 866-906-5634  Milwaukee  414-250-7880     Madison  608-465-4594     Green Bay 920-626-3125

Our 3 Step Process

Step 1:
Get Out Of Debt

Step 2:
Clean Up Your Credit

Step 3:
Build Your Score

Home 9 Bankruptcy 9 3 ways to rebuild credit following a bankruptcy

3 ways to rebuild credit following a bankruptcy

by | Sep 2, 2020 | Bankruptcy

Discharging your debt through bankruptcy gives you an opportunity to start over financially. Even though the bankruptcy remains on your credit report for seven to 10 years, you do not need to wait that long to start rebuilding your credit.

Your credit score reflects many different factors, one of the most important of which is your payment history. You can take steps now to improve this, and you should start seeing a better credit score more quickly than you expect.

1. Pay bills on time

Bankruptcy discharge relieves your burden of debt and makes it easier to make payments on time for recurring bills such as mortgages and utilities. Payment history accounts for 35% of your overall score, so this is a simple way to start rebuilding your credit.

2. Have payments reported to credit bureaus

Make sure the credit bureaus find out about your record of on-time payments. Check with your utility providers, mortgage lenders and anyone to whom you make monthly payments and see if they will report them to the credit bureaus.

3. Opening a secured credit card

A new credit card can help you improve your score if you maintain control of your spending and pay off the balance every month. A secured credit card may help you maintain the necessary discipline while representing a lower risk for the card issuer because you back it up with a bank account. This means that your card issuer can take money out of your account to cover the balance if you fail to pay your bill on time.

the secrets about bankruptcy they don't want you to know

Complete this form to receive your FREE copy of Attorney Miller’s book, The Secrets About Bankruptcy They Don’t Want You to Know. Order today to begin your personal journey toward true financial freedom.

Sidebar (Book Request)