How to Reestablish Credit After Bankruptcy
Have you filed or want to file for bankruptcy but are concerned about it’s affect on your credit? Watch this video by Buffalo Bankruptcy Attorney Michael F. Barrett for advice on how to reestablish your credit after bankruptcy. If you are considering bankruptcy, or have questions about how it will affect your credit, please contact us to schedule a consultation. We welcome the opportunity to assist you on your road to financial recovery.
- One primary concern is the length of time required to reestablish credit but, although it will not take long, you will have to work for it.
- After a bankruptcy, establish credit that reports your payments to the major credit bureaus by opening a secured credit card account.
- You may be offered unsecured credit cards with a lower limit and a high interest rate. Avoid paying that high interest by paying each month’s balance in full.
- As long as you pay on time, you will steadily rebuild your credit.
- A car loan is another good option, and paying on time shows that you are creditworthy.