How Do I Rebuild my Credit After Filing for Bankruptcy?
Answer: If you are considering declaring bankruptcy in Arizona and are worried about what the effects declaring bankruptcy will have on your credit score, you should contact a bankruptcy lawyer or bankruptcy attorney in Arizona and ask about what effects bankruptcy has on your credit rating. An experienced Mesa, Tucson, Phoenix, or Glendale bankruptcy attorney can also advise you as to how to rebuild your credit after filing for chapter 13 bankruptcy or chapter 7 bankruptcy in Tucson, Mesa, Tempe, Gilbert, Phoenix, Glendale, and throughout Arizona.
Filing for chapter 7 bankruptcy or chapter 13 bankruptcy in Arizona can stay on your credit report for up to ten years. During that time, the bankruptcy will have a negative effect on your credit score. However, that negative effect will decrease with time. Your credit score will take the biggest “hit” shortly after your Arizona chapter 7 or chapter 13 bankruptcy is reported to the 3 credit bureaus. Over time, the effects of your Arizona bankruptcy filing will decrease. Be patient, time is your friend. Your credit score will slowly rise again.
It is possible that you can rebuild your credit after a Chapter 7 or Chapter 13 bankruptcy filing in Arizona, to a certain extent. Rebuilding your credit is certainly worth pursuing. Seeking the help of an experienced Arizona bankruptcy lawyer, an Arizona bankruptcy attorney, or an Arizona debt relief specialist is always recommended. There are many programs that can be recommended to you that will help you achieve better credit after filing for chapter 13 or chapter 7 bankruptcy protection.
Contact The My AZ Lawyers, PLLC for a FREE Consultation on how to rebuild your credit score after filing for bankruptcy. Call (480) 833-8000 for bankruptcy attorneys in the Phoenix or (520) 306-8729 for Tucson bankruptcy attorneys or Send an e-mail. In addition to free face-to-face consultations, we also provide free consultations over the telephone.
What can I Do to Rebuild my Credit Score After Filing for Bankruptcy?
Answer: After filing for Chapter 7 bankruptcy or Chapter 13 bankruptcy in Arizona, rebuilding your credit score is one of the most important things that you can do while trying to achieve a “Fresh Start”. The more you can boost your credit score, the better your chances of getting approved for financing in the future (car loans, credit cards, home mortgage loans, etc…). There are things that you can do to expedite your credit rebuilding.
Things you can do to rebuild your credit following a bankruptcy:
- Apply for a secured credit card, make monthly payments on time
- Open a credit union account, contribute to it monthly
- Make all of your “reaffirmed” debt payments on time
- Avoid Finance Companies
- Get copies of your credit reports from all 3 credit bureaus
- Make sure your credit report reflects the removal (via your bankruptcy) of all your unsecured debt
- Say “no” to co-signers
- Steer clear of those shady “credit repair” companies. The vast majority of them are scams!
- Establish a sense of permanency by not moving
- Begin paying your bills early or worst case, on time
- Check your credit score and credit history report regularly for mistakes
Believe it or not, you can actually qualify for credit relatively soon after filing chapter 7 bankruptcy or chapter 13 bankruptcy in Tucson, Phoenix, Glendale, Mesa, Tempe, Scottsdale, Peoria and throughout Arizona. Some creditors recognize that you carry a lighter debt load and are less likely to run short of money for monthly payments. Some credit card companies will want to give you a credit card as they know that since you recently filed for bankruptcy that you 1) Don’t have any current debt and should be able to now make your credit card payments and 2) The credit card company knows that since you just recently filed for bankruptcy that you won’t be able to file again for at least another 8 years. You won’t be able to dismiss any debt you have with them through bankruptcy for quite some time which makes you a better credit risk than a lot of people in their eyes.
The steps needed to rebuild credit after a negative event like bankruptcy are pretty straightforward. If you need straightforward answers regarding bankruptcy, foreclosure, stopping garnishments, avoiding repossession, stopping harassing creditor calls, or rebuilding your credit after bankruptcy. At The My AZ Lawyers, we offer a free initial consultation to help you make the decision whether or not bankruptcy is the right choice for you and, if so, what you need to know and do to achieve the results offered under the various bankruptcy alternatives.
In addition to free face-to-face consultations, we also provide free consultations over the telephone. Give us a call. (480) 263-1699 for a debt relief specialist in the Phoenix area and (520) 306-8729 for a debt relief specialist in the Tucson area, or Send us an e-mail. Don’t you deserve a Fresh Start? Increase your credit score, get help from our bankruptcy lawyers, bankruptcy attorneys, and debt relief specialists today.