Rebuilding credit after bankruptcy

So, you've just filed bankruptcy and you want to rebuild your credit. I have some great tips for you to do this:

Rebuilding credit after bankruptcy takes time, but if you stick to these tips, you will be well on your way. No matter what, make sure to pay your bills early or on time. You must stick to this rule. Do not pay your bills late again!

You must avoid finance companies. These companies are expensive, and these companies will show up on your credit reports, lowering your credit scores.

Another thing you must do for rebuilding credit after bankruptcy, is to get a hold of your credit reports from all 3 beaureus. You have to look at these reports to make sure that the bills you owed are no longer on your reports. If they are still reflected, you will need to send proof that they have been paid, so that way your profile can be updated. 

Here are some steps for rebuilding your credit after you have filed for bankruptcy:

1. Only use your credit card sparingly. Keep in mind what caused you to file for credit card bankruptcy in the first place. Do not rely on your credit card for purchases, only use it when you really have to. That being said, it is still important that you don't just let your credit card sit there to collect dust. Rebuilding credit requires using it. Not using it will do nothing for your credit.

2. Pay what you owe off quickly. Keep a notepad or excel spreadsheet of what you purchased, and make sure you are able to pay it off. Paying your debts off as quickly as possible will be beneficial for rebuilding credit after bankruptcy. The longer you wait to pay it off, and missing due dates, will harm your credit again.

3. Be patient- Bankruptcy is removed from your credit history after 7 years. In the meantime, train yourself to use your credit cards responsibly, avoiding old habits that got you into bankruptcy in the first place.

4. Apply for a secured credit card: It is hard to get an unsecured credit card after bankruptcy. By applying for a secured credit card, you can start to rebuild your credit.

5. Get loans that you can afford: If you get a loan such as a student loan, and you pay them off on time, this can really improve your credit. You should be aware that you will probably have to pay high interest rates on these loans until your credit score improves.

Rebuilding credit after bankruptcy takes time, but follow those steps mentioned, and you'll be well on your way!