Filing for bankruptcy is very helpful for eliminating debt but it is also harmful to your credit. We explain to our clients that rebuilding good credit is important even though we encourage them to stay away from incurring new debt.
Following are some of the ways you can rebuild your credit after bankruptcy:
Pay your bills on time: Paying your monthly bills on time makes up for 35 percent of your credit score. This is one of the best steps you can take in order to repair your credit.
Use RD Reports: This company makes it easy to ensure that the bankruptcy filing and the debts listed in the case are shown on your credit report accurately. We’ll tell you more at a free office consultation.
Beware of credit-repair companies: You may receive offers, emails or phone calls from credit-repair agencies. While this may seem like an attractive choice for repairing your credit, the fees these companies charge can be outrageous and typically they aren’t doing anything you couldn’t do yourself.
Typically, you can repair credit after filing for bankruptcy within 1-2 years.
Posted in Bankruptcy, Consumer Bankruptcy
Tagged Chapter 13, Chapter 7, credit rating, Georgia bankruptcy lawyer