Restoring your future credit is one of the great advantages of filing for bankruptcy. In it not unusual to begin receiving credit card offers shortly after filing.
Here are a few tips to help you regain your credit worthiness after filing:
- Check every few months or so with the leading credit reporting agencies (Trans Union, Experian and Equifax) to make certain that no discharged debts appear on your credit reports. At your request, they must provide at least one free report each year at no charge.
- Obtain a small credit card, such as a secured card account and pay it off in full each month. Over time, this will improve your credit score.
- Typically, car loans are available a few months after your discharge, with more competitive rates available within a year or two.
- See if a friend or family member will have you named as a “co-maker” on their credit card. This can help your credit score without going into debt!