The dust has settled after your bankruptcy: now it’s time to start rebuilding your credit. This is something that takes time to do, especially in the early months-even years that follow.
The key factor in building your post-bankruptcy credit is to add positive data to your credit report; it’s going to outweigh your past negative events.
One of the first steps that you can take to add positive data on to your credit report is to open a secured credit card. A secured credit card is a card that is backed by a deposit. The deposit that you make is typically equal to your credit limit. When you use, and make payments on, your secured credit card, you are adding points to your credit score.
Always, and especially when you are in the process of rebuilding your credit, make sure to monitor your credit reports and scores. Place close attention to make sure that the reported information is correct and that nothing is missing.
Be patient! Bankruptcy can initially drop your credit score more than 200 points. You don’t have to do it alone, our trusted team can help you get connected with a credit repair specialist who can help you regain your credit and be on a path to better and smarter credit management.