Rebuilding Your Credit After Bankruptcy
Work with Our Los Angeles Bankruptcy Attorneys at Resnik Hayes Moradi LLP
Many people shy away from bankruptcy as a debt relief solution because they worry that it will permanently destroy their credit. They tend to forget the damage late payments, missed payments, and high debt continues to cause on that rating. While bankruptcy will remain on your credit report for 10 years, you can take steps to begin reestablishing your credit the day your debts are discharged in bankruptcy.
At Resnik Hayes Moradi LLP, we understand that you want to get back on track and rebuild your financial health on more solid footing. We can help you get there. Take the first step and call us at (213) 344-0043 to arrange a free consultation with our Los Angeles bankruptcy attorneys.
Declaring bankruptcy will have an impact on your credit rating. However, it is frequently the first step in rebuilding your credit score and getting on the right financial path. The worst day of your score is the day you decide to file. Financial rehabilitation begins the minute you file bankruptcy.
How to Rebuild Your Credit Rating
Many clients who come to us for assistance with either Chapter 7 or Chapter 13 bankruptcy find that they receive credit card solicitations only months after completing the process. Several qualify to finance a vehicle purchase soon after a discharge.
After your bankruptcy case is complete, there are some things you can do to actively improve your credit score. These include:
- Opening a checking or savings account
- Applying for a secured credit card
- Paying your mortgage, rent, utility, and secured credit card bills on time
- Applying for store credit cards rather than paying cash
- Applying for a loan with a co-signer who has good credit
- Avoiding high interest payday loans
- Keeping your income to debt ratio low
- Paying your reaffirmed and, if you filed Chapter 13, debt repayment amounts on time
By taking steps to improve your credit rating, you may be able to see significant changes in a relatively short amount of time.
Serving Clients Throughout Southern California
When you are ready to make a fresh start, contact Resnik Hayes Moradi LLP. Our bankruptcy lawyers in Los Angeles will thoroughly explain the process and give you tips about how to rebuild your credit rating after the discharge. From our two convenient office locations, we work with clients throughout Southern California.
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We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
Without the support of pro bono attorneys we couldn't do all the work we need to do, and your firm in particular is outstanding.- Skip K.
Was very impressed with the comprehensive professionalism of the firm...- G.L
He not only saved my house but also got rid of all my debt. They are not your typical attorneys and their creativity really allowed me to do things that other attorneys never mentioned in previous consults.- David K.
He negotiated on my behalf with a credit card company and was able to settle with them for much lower than I could have on my own.- Kelly S.
I cannot thank them enough for helping save my home. I would recommend them for anyone that is thinking about filing for bankruptcy or foreclosure on their home.- Joseph R.