Rebuilding your Credit After Bankruptcy
After your case is discharged in a bankruptcy, you can rebuild your credit score by:
1. Applying for a secured credit card. This type of credit card is secured against your money. You make an initial deposit of your money and charge against it. At the end of each month, you are required to bring the account back to its original deposit amount. This will reflected positively on your credit report and will increase your credit score. However, beware of secured credit card companies that do not report on your credit report. Those types of secured credit cards will not help rebuild your credit.
2. Have a family member/friend co-sign a loan that you are able to afford the monthly payments. This will reflect positively on your credit report and will increase your credit score.
3. If you have reaffirmed a loan before your bankruptcy has been discharged, make sure to continue making your monthly payments on time. This will reflected positively on your credit report and will increase your credit score.
Non-Bankruptcy Alternative (click here)
Chapter 7 bankruptcy