There are various ways to repair credit after bankruptcy. You can:
1. Try to get a secured credit card, which can help you in improving your credit. Make small purchases using this card, and then make on-time payments. After some time you can request the creditor to change this into an unsecured card.
2. Check your credit report for wrong listings. If there are any wrong listings, like the accounts showing as open and overdue, you can dispute this with the credit bureaus. Under bankruptcy all the accounts get closed.
3. Use departmental store cards to rebuild credit. These are the cards for small usages. You can buy necessary things with this card, and then make on-time payments. Payment history plays the most important role in improving your credit.
4. Limit your expenses. You need to make a list of your monthly income and expenditure. Don't overspend on anything.
5. Open a savings account, so that you can put money into it each month. Don't touch this account for months. When needed, you can use this to make more than minimum payments towards the card accounts.
repairing credit after bankruptcy
Hi solomonwilson,
There are various ways to repair credit after bankruptcy. You can:
1. Try to get a secured credit card, which can help you in improving your credit. Make small purchases using this card, and then make on-time payments. After some time you can request the creditor to change this into an unsecured card.
2. Check your credit report for wrong listings. If there are any wrong listings, like the accounts showing as open and overdue, you can dispute this with the credit bureaus. Under bankruptcy all the accounts get closed.
3. Use departmental store cards to rebuild credit. These are the cards for small usages. You can buy necessary things with this card, and then make on-time payments. Payment history plays the most important role in improving your credit.
4. Limit your expenses. You need to make a list of your monthly income and expenditure. Don't overspend on anything.
5. Open a savings account, so that you can put money into it each month. Don't touch this account for months. When needed, you can use this to make more than minimum payments towards the card accounts.
Thanks,
Aaron
great answer.