When I first started working with Charlie (not his real name) in 2005, his bankruptcy had just been discharged, meaning his remaining debt was cleared. His credit score was 526, and he didn’t think he had a chance to even get a credit card.
Drose Law Firm does not agree with all of the tips given in this article.
For instance, you should ensure that any credit card you apply for after a bankruptcy has a balance you can easily pay off each month. However, this is a good general presentation of the steps to reestablishing credit after a bankruptcy.
Remember, making payments on your house, rent, car, or utilities helps to rebuild your credit, but may of our clients complain about getting pre-approved credit card offers in the mail just after their case is completed. Don’t get overwhelmed, or take on more credit than you can afford
