How do I Rebuild My Credit after Filing for Bankruptcy?

If you are considering declaring bankruptcy in Arizona and are worried about what the effects declaring bankruptcy will have on your credit score, you should contact a bankruptcy lawyer in Arizona and ask about what effects bankruptcy has on your credit rating and how to rebuild your credit after filing for bankruptcy in Tucson, Phoenix, Glendale, throughout Arizona.

Filing for bankruptcy in Arizona can stay on your credit report for up to ten years. During that time, the bankruptcy will have a negative effect on your credit score. However, that negative effect will decrease with time. Your credit score will take the biggest “hit” shortly after the bankruptcy is reported to the 3 credit bureaus. Over time, the effects of your bankruptcy filing will decrease. Be patient, time is your friend. Your credit score will slowly rise again.

It is possible that you can rebuild your credit after a Chapter 7 or Chapter 13 bankruptcy filing in Arizona, to a certain extent. Rebuilding your credit is certainly worth pursuing.

Contact The Bornmann Law Group, PLLC for a FREE Consultation on how to rebuild your credit score after filing for bankruptcy. Call (480) 263-1699 or Send an e-mail. In addition to free face-to-face consultations, we also provide free consultations over the telephone.

What can I do to rebuild my credit scorer after a bankruptcy filing?

The more you can boost your score, the better your chances of getting approved for financing in the future (car loans, credit cards, home mortgage loans, etc...). There are things that you can do to expedite your credit rebuilding.

Things you can do to rebuild your credit following a bankruptcy:

• Apply for a secured credit card, make monthly payments on time
• Open a credit union account, contribute to it monthly
• Make all of your "reaffirmed" debt payments on time
• Avoid Finance Companies
• Get copies of your credit reports from all 3 credit bureaus
• Make sure your credit report reflects the removal (via your bankruptcy) of all your unsecured debt
• Say "no" to co-signers
• Steer clear of those shady “credit repair” companies. The vast majority of them are scams!
• Establish a sense of permanency by not moving
• Begin paying your bills early or worst case, on time
• Check your credit score and credit history report regularly for mistakes

Believe it or not, you can actually qualify for credit relatively soon after filing bankruptcy in Tucson, Phoenix, Glendale and throughout Arizona. Some creditors recognize that you carry a lighter debt load and are less likely to run short of money for monthly payments. Some credit card companies will want to give you a credit card as they know that since you recently filed for bankruptcy that you 1) Don't have any current debt and should be able to now make your credit card payments and 2) The credit card company knows that since you just recently filed for bankruptcy that you won't be able to file again for at least another 8 years. You won't be able to dismiss any debt you have with them through bankruptcy for quite some time which makes you a better credit risk than a lot of people in their eyes.

The steps needed to rebuild credit after a negative event like bankruptcy are pretty straightforward. If you need straightforward answers regarding bankruptcy, foreclosure, stopping garnishments, avoiding repossession, stopping harassing creditor calls, or rebuilding your credit after bankruptcy. At The Bornmann Law Group, we offer a free initial consultation to help you make the decision whether or not bankruptcy is the right choice for you and, if so, what you need to know and do to achieve the results offered under the various bankruptcy alternatives.

In addition to free face-to-face consultations, we also provide free consultations over the telephone. Give us a call. (480) 263-1699 or Send us an e-mail. Don't you deserve a Fresh Start?

Simply fill out the sign-up form to begin your Fresh Start.