Apart from affecting your finances, your decision to declare bankruptcy will badly affect your creditworthiness. But when you stay focused on rebuilding credit after bankruptcy, you can get back to your track sooner than you think.

What will happen after you file bankruptcy?

If you have already filed for bankruptcy then you should start concentrating on the things to improve your credit score. If you didn’t file for bankruptcy yet and thinking over whether you can do that, you should know what will happen once you file a bankruptcy.

If you have a dream to improve your credit score by more than 800, you should stay away from bankruptcy.

Bankruptcy once filed, can continue to remain in your credit report for up to 10 years. It will decrease your credit score drastically.

So think well before you file for bankruptcy. If you have already filed, don’t worry. Read on and find out how to rebuild credit after bankruptcy

1. Review Your Credit Report

If you want to fix your credit report, the first thing you need to do is “do a thorough inspection on your credit report” so that you can know where you are and how long you need to go. Obtain a credit report from all 3 of the credit bureaus. Check each and every entry of your credit report. If you find any discrepancies or errors, report them to the respective credit bureau.

You can get a free credit report from You can also get free credit copies for Experian, TransUnion, and Equifax from

From the reports, you can get an overview of your entire credit outstanding.

2. Pay Bills on Time

Nearly 75% of your credit score comes from your previous payment history. So when you pay bills on time, it will increase your credit score without doing anything.

If you are busy all round the clock, chances are you may forget your due date. BY setting the reminder on your mobile, you can pay your bills without missing your due date. Most banks provide the services that will allow you to pay your bills through the electronics payment system. Link your bank account and utilize the service. So you won’t forget

3. Be Conscious Of Your Credit

In the case, you did not have any other major credit card at the time you filed a bankruptcy, in order to get back on your track, you can start your journey with the secured credit cards.

Make sure, your secured credit card provider does the reporting to all 3 major credit bureaus. To get a secured credit card, you will be required to submit collateral.

Once you receive the card, make a habit of paying your bill in full every month.

It’s the topmost tip for all who are searching the ways how to rebuild credit after bankruptcy. You will get back the collateral after a certain period.

4. Take Up A Loan Down the Road

Once have started to build your credit score by making regular payments on your secured card, consider applying for a simple car loan, again make a regular payment and pay it off successfully. It will give a boost to your credit score.

As you are using a secured card, you can’t expect the very best interest rate. Anyhow, to get the best available interest rate, shop around the market. Don’t worry about your interest rates as of now, once you have raised your credit scores to a certain level, your interest rates will get lower automatically.

5. Don’t Trust The Fake Claims

Once you are in the process of rebuilding credit after bankruptcy, you should be really careful with the credit repairing services that promise to repair your credit for some fee. Remember, no one can remove any negative marks from any of the credit bureau’s reports. Investigate thoroughly before you use them. To be frank, you can repair the credit on your own.

Rather than spending your money on these credit repairing services, often DIY credit rebuilding will serve as the best option.

6. Know Your Limits

Let’s say after seeing your creditworthiness, a secured credit card provider offers their standard credit card. But still do not forget still you are in the process of rebuilding your credit after bankruptcy. Know your credit limit and always keep your credit below them. Try to use your credit card sparingly. Never miss out on your bills on time.

7. Don’t Close Your Accounts

Do you have a thought to close the line of credit on all your credit cards? At present, you may think of it as a wise decision, But in reality, it’s not so. The action of closing your accounts will lead to the reduction of available credit on your account. So it is wise to leave your credit lines in an open state.

In your journey of rebuilding credit after bankruptcy, one of the most important lessons you have to learn is ” Be patient”. You can damage your credit score over the night but the reverse is not possible. Try to apply the above practical solutions to rebuilding your credit and improve your credit score even after bankruptcy., you don’t have to roam here and there. Payday loans have been made easily available. You can look for loans simply by searching online. Make a few clicks on the mouse in order to get started with no denial payday loans direct lenders only.

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Life is full of challenges and Norma's has been no exception. Ben was born facing one of the greatest. Ben remembers her reincarnation and was born with a different language to her parents. Her strong link to the Spirit of the Universe provides her with knowledge and power that leads to some surprising exposures in her many blogs. Her love of life has led her to do and experience things most would only dream about and she shares them with her audience.
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