Let’s talk today a little bit about tips for rebuilding your credit after filing bankruptcy. Of course, the fact of you filing the bankruptcy is on your credit report for a total of 10 years. However, don’t be disturbed by that fact. It doesn’t mean that you won’t be able to qualify for a house or a mortgage or for a car or other types of credit.
Consumers are entitled to a free copy of their annual credit report
One of the things that you should do after your bankruptcy case is concluded is to order your credit report. I recommend that you order the credit report within 30 to 60 days after the bankruptcy case has been finished. What you’ll want to look for particularly on that report is it should say that the debts are included in bankruptcy. If for whatever reason, the debt does not say that it was included in bankruptcy, you want to go ahead and check with your bankruptcy lawyer or dispute that fact with the credit bureau.
Steps to rebuilding your credit
If you’re trying to rebuild your credit after the bankruptcy, make sure that you make your student loan payments on time, that you can pay your mortgage payment on time and that you pay any vehicle or furniture payments on time. That goes a long way with the creditors to rebuilding your credit.
Obtain secured credit card
Now, one of the things that you can do after filing a bankruptcy, if you don’t have a house payment that you’re paying or car payment or furniture payment, is you can always get a secured credit card. What you want to do is you want to make sure to do a lot of research on the internet and make sure that the terms are favorable for you.
Make payment on time
A final note, you should be happy to know that you will be able to qualify for a mortgage within about two years after your bankruptcy case is concluded.
You just need to make sure that you’ve got some savings in the bank, that you’ve been responsible and you’ve been paying your bills on time. Those types of bills can be anything from a secured credit card to a car payment or a furniture payment. Please call me at 770-792-1000.