Nevada’s Trusted Bankruptcy Attorneys Share a Guide To Rebuild Credit After Filing Bankruptcy

You can quickly rebuild your credit after your bankruptcy is discharged. One of the biggest myths regarding bankruptcy is that your credit is ruined forever. This is simply not true. Your credit can be re-built following a bankruptcy filing.

The first thing you need to do is create a budget and stick to it. You want to make sure that you don’t have to take on additional debt in order to meet your expenses. Therefore, spending only what you can afford each month will go a long way toward strengthening your finances and preventing you from getting into trouble with credit again. Another good idea for a more stable financial situation after filing bankruptcy is to have savings in case an emergency arises, so you don’t have to use credit.

Nevada's Trusted Bankruptcy Attorneys Share a Guide To Rebuild Your Credit After Filing For Bankruptcy

How Long Does It take To Re-Build Your Credit After Filing Chapter 7 Bankruptcy?

Most experts agree that it takes 18-24 months to rebuild your credit after filing a Chapter 7 bankruptcy. The 18+ months is just an average. There are ways to expedite the re-building of your credit. Our debt relief team knows the latest hacks in order to assist you in re-building your credit after declaring bankruptcy. You can improve your credit score in as little as 12 months.

You can boost your credit a bit by taking out a small line of credit, such as with a store credit card or a gas credit card. Use it sparingly, and pay it on time each month. You’ll notice your score being boosted steadily, and you’ll soon be back in a healthy range.

There are many misconceptions. Thus, do not let myths about filing bankruptcy keep you from getting the debt relief you need. Despite what you might read on the internet, declaring bankruptcy will not destroy your credit. However, bankruptcy will be a negative mark on your credit, but it won’t stop you from getting credit in the future.

Be Patient & Wait For Your Bankruptcy Discharge

Keep an eye out for your bankruptcy discharge. Once your bankruptcy is discharged, then comes the time when your credit score can really rise. Our debt relief team can advise you on options that will help you increase your credit score after your bankruptcy discharge. Then, you’ll soon have a healthy score that will allow you to get whatever credit you need. Plus, you’ll have the financial freedom you didn’t have before when you were overwhelmed with debt that you couldn’t afford.

Contact our bankruptcy team today. Learn more about how bankruptcy might help you not only with alleviating your debt, but also with the many options available to increase your credit after filing bankruptcy. Our team works with you from initial consultation all the way through to getting you on the right path after bankruptcy. There is Life After Bankruptcy.

Our clients include people filing Chapter 7 bankruptcy, Chapter 13 bankruptcy, Emergency bankruptcy, Medical Debt bankruptcy, or are people struggling with a Wage Garnishment, a Foreclosure, a Repossession, or some other form of debt crisis. Our Nevada bankruptcy attorneys will review your finances and help you understand which option would give you the most benefits. The goal of our Debt Relief Law Firm is to get you the maximum debt relief possible. Getting the maximum debt relief will put you back on firm, financial footing quicker.

Suggestions For Rebuilding Credit After Filing For Bankruptcy

Our experienced Nevada bankruptcy attorneys weigh in on some of the best methods to rebuilding your credit after filing Chapter 7 or Chapter 13 bankruptcy. Our debt relief team have helped thousands of people file for bankruptcy. Many of these people have had us assist them in rebuilding their credit after they get their bankruptcy discharge.

Here Are a Few Tips To Rebuild Your Credit:

  1. Stay current on payments of Accounts.
  2. Be Smart about applying for new credit.
  3. Make sure all of your payments are being recorded by the credit bureaus.
  4. Avoid Job-hopping.
  5. Consider a co-signer.
  6. Consider being an authorized user on another’s account.
  7. Keep your Balances Low.
  8. Check your credit report to make sure that your bankruptcy filing was accurately reported.
  9. Apply for new credit.

Working With a Credit Counseling Agency

One of the things that is an option for you when seeking assistance in improving your credit after a bankruptcy is working with a credit counseling agency. However, credit counseling agencies essentially do the same work that you could do, trying to negotiate with your creditors. Sometimes, companies are a little more willing to work with credit counseling agencies because they know that you are more serious about improving your credit.

Working with a credit counseling agency may help you learn how to better handle your finances, so you don’t get into trouble with debt again. Credit counseling courses are a part of the bankruptcy process as you are required to take one both before filing bankruptcy and a 2nd credit counseling class after filing for bankruptcy. Credit counseling is basically another means to an end when it comes to Rebuilding Your Credit After Filing Bankruptcy.



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