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3FROGGY2

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After discharge what is the best way to re-build credit & when?

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The best time to start working on your credit score would be "yesterday"   Too many people wait until there is a need (ie: applying for a mortgage) to start working on it.  its a tad late at that time.   Even if you are in the middle of bankruptcy and going to court today, there is nothing like the here and now in which to start working on and rebuilding ones credit.  You will first want to ensure that all of the creditors which were included in the discharge reflects the accounts as being closed.  The damage done by the prior late payments has already been done and you cannot salvage that.  What ever bills you have that report to the credit bureau that were not included should be paid on time every month.   You should also consider getting a secured credit card that you can properly manage.   What ever mistakes that were made that led to the bankruptcy should be valuable lessons learned.   Even if everything was out of control in your mind, there were still controllable factors.   Savings would be a good idea where possible.  You will be surprised how setting a little something away every month can put your mind at ease.  By the pay, putting something away doesn't mean you can play/use with it.   Its not savings if you keep accessing it.  After discharge has passed, there are a few firms that will begin to work with you;  just ensure you select that credit card company wisely only after reading all of the reviews of that credit card.

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Since the expressed purpose of Credit Karma is to TEACH people how credit works and how to build a good credit score, reading the articles on this site and using the financial tools provided would be a good place to start.  I know because my credit score is now excellent since I took advantage of this opportunity. 

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