Can Bankruptcy Improve Your Credit Situation?

We believe strongly that after successfully filing for bankruptcy, you want to repair your credit score. We believe so strongly in this that we actually pay a company to help you rebuild your score. They will provide guidance about the steps you will need to take to ramp up your score. Do not pay a credit repair service to help you. They can’t wipe your score clean. These companies are a scam. With a little guidance, you can rebuild your credit quickly by yourself.

If you have retained an reaffirmed your car loan, you should be on a pretty quick track for a credit score rebuild as long as you make your payments on time.

If you don’t immediately qualify for an unsecured credit card, one step that almost always is a winner is signing up for a secured credit card and getting the payments in on time. Even with bad credit after just getting out from bankruptcy, you can almost always get a secured credit card.

Creditors will almost always make these available because there is no risk for them. With a secured card, you are offering collateral, usually cash where they can take the cash if you fail to pay. For example, if you put down 800 bucks on a secured card, you can use the card for up to that $800 limit and get credit for the payments on your credit report.

After some months of making timely payments, your credit improves, particularly with the bankruptcy having eliminated the back balances and the default activity becoming a more distant past event for credit scoring purposes.

These credit improvements usually make obtaining a credit card a reality pretty quickly. Once you get it to keep making your payments on time and you should be in a position to get mortgages and car loans your credit will improve, even more, putting you in a position to get good car loans and mortgages just like anyone else.

Once you obtain a discharge, we make sure that you have the opportunity to work with 720 Credit Score at no additional charge to you so that you have access to experts in the field of credit score rebuilding.

Repair Your Credit Score

Repair your credit score quickly and permanently as part of getting a meaningful fresh start. Making this a reality is part of the holistic approach to bankruptcy that we offer at Phoenix Fresh Start Bankruptcy Attorneys. Please let me know if you have any questions at all regarding how bankruptcy might help you rebuild your score.