How to Rebuild Credit After Bankruptcy

You’ve filed for bankruptcy, and it’s gotten you out of debt and ready for the next step in fixing your financial situation. Unfortunately, your debts and bankruptcy have left your credit in ruins, making it difficult to buy or rent things you may need, such as a home or car.

You need to know how to rebuild your credit after bankruptcy, and a lawyer at Rowdy G. Williams Law Firm can help. We’re familiar with the problems and pitfalls you may face after bankruptcy, so we’ll help you prepare—from your original bankruptcy petition to a life after your debt is resolved.  

Build a Budget

Those who choose Chapter 13 bankruptcy quickly get used to living on a budget. This can help your credit grow. Building your credit after bankruptcy will take time, but with the right budget, you can better prove to lenders that you’re ready to move forward.

If you’re struggling to balance your income and expenses, it can be easy to fall back into your debt, and once you’ve filed for some types of bankruptcy, you’ll be unable to do so again for years. Protecting your debt-free lifestyle, then, is vital.

If you’ve recently filed for bankruptcy and you need help staying out of debt, get credit counseling and help building a better budget for your needs.

Avoid Credit Scams

A major benefit of speaking to a professional about your budget will be the help you’ll receive in avoiding scams. It’s an easy trap to fall into: They offer a fast solution to your problem, and they leave you a victim of fraud.

If you’re not sure a credit repair company is legitimate, contact your bankruptcy lawyer. An attorney can look for signs that you’re dealing with a scam, such as the following:

  • Promises to fix your credit quickly
  • Guarantees that your credit will improve
  • Up-front fees
  • No explanation of your rights

While some of these may seem like reasonable guarantees, you need to check the claims and make sure you haven’t become the victim of a scam. If the company seems suspicious, you may need to report the company to the appropriate authorities.

Contact a Terre Haute Bankruptcy Lawyer

Having good credit can help you get or keep important property, such as a house or vehicle. But if you’ve been through bankruptcy recently, getting your credit back to normal isn’t easy. You may not know how to rebuild credit after bankruptcy, and fraudulent credit repair companies are ready to take advantage of that.

A lawyer at Rowdy G. Williams Law Firm can help protect your credit as you move through the bankruptcy process. To speak with one of our lawyers about our services, contact us at 1-812-232-7400 or via the form below.