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How can I rebuild my credit rating after bankruptcy?
By: Stan Hopkins
Once you have received your discharge from bankruptcy you are able to apply for credit again if you wish. Creditors will look at two things in deciding whether to extend credit to you – your ability to make the required payment and your credit rating.
The first step to rebuild your credit rating is to ensure that your bankruptcy discharge has been picked up by the credit reporting agencies on your credit file.
Obtaining a secured credit card, charging on it and then repaying the balance in full each month will start to build positive credit history on your credit file.
We will discuss obtaining and using credit with you during the bankruptcy process. If you have more questions and you want answers now, contact us.