Bankrupt? How to Rebuild Your Credit

Sept 12, 2022

Bankruptcy may be the most damaging things that can befall your financial life. It may take anywhere from a month to two years for your credit score to improve after you declare insolvency. 

That said, it’s not all hopeless. There are things you can do to help improve your credit score after bankruptcy. You will need to be patient and consistent with your efforts, but it is possible to rebuild your credit.

  1. Get a secured credit card. A secured credit card is one that is backed by a deposit you make with the issuer. This is an excellent way to reestablish credit because it shows that you have turned a leaf and are now capable of paying your debts on time.

  1. Use a co-signer. If you have a family member or friend with good credit, they can co-sign with you on a credit card or loan. This can help you get approved and start rebuilding your credit.

  1. Keep up with your payments. One of the best things you can do for your credit is to make all your payments on time, including loans, rent, utilities, etc.

  1. Get help from a credit repair in Dallas. If you are in Dallas and are having trouble with your credit, consider contacting a credit repair company. A credit repair specialist in Dallas can help you improve your credit score by removing negative items from your credit report. Choose a reputable firm with a good track record in assisting consumers in regaining control of their credit score and finances in general.

  1. Check your credit report. You are entitled to one credit report every year—at no cost—from all major credit reporting agencies. Review your report carefully and always ensure it is free of any error that may cause hassle along the way. If you find any problems, coordinate with a credit repair company in Dallas. They can fix it for you.

There you have it, five ways to help improve your credit score after bankruptcy. Remember to be extra patient and consistent with your efforts. Talk to a professional credit restoration company if you want the best possible results. Good luck!