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Posted in Bankruptcy
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Question By
msbless

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3 People Helped
where should I start restoring my credit and raising my crediy score

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Takes time and effort to change

Helpful to 28 out of 31 people

First and foremost, pay your bills on time every time. Get direct deposits and automatic payments set up with your bank so bills are never late. Once you have established that you are consistently paying on time you will be able to get a secured credit card. Use it for small purchases only and pay in full each month. Use an online budget program so you can see when money comes in and when it comes out. It will let you see any short-fall before it happens and allow you to adjust your spending accordingly.

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122 Contributions
82 People Helped

Start by pulling your Credit Report

Helpful to 9 out of 12 people

Also how long has it been since your bankruptcy? That could be a determining factor since bankruptcies stay on your record for ten years at least. Depending if your credit isn't totally shot you could get a secured credit card and build from there. You should let us know more about you so we can help you further. Thanks...

Reply by
salty58

9 Contributions
59 People Helped
Helpful to 37 out of 37 people

I agree.  I did the same thing, got a secured credit card from my bank.  I bought a few things with it, paid each month off in full.  After one year I was offered an unsecured card.  I made two purchases, paid them both in full.  The bank then doubled my credit limit on the card.  This helped me raise my credit score.  One thing I learned, keep the secured card open, this gives you a longer period of open credit.  Time of open credit plays a roll in your credit score.

I hope this helps you some.  Best of luck.

1 Contribution
4 People Helped

Bankruptcy or ?

Helpful to 4 out of 6 people

I made several mistakes as a youth and got credit cards that ended up going into collections. Should i file for bankruptcy or try a firm like Lexington Law to try and help get them off my record?

Reply by
Gotyakat

2 Contributions
2 People Helped
Helpful to 2 out of 3 people

Lexington law didn't help me!!!!!!  & I was with them for months! They're not cheap either! Plus side: when I called them they didn't give me a hard time & credited me!  Good Luck!!!!!

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2 People Helped

In bankrutcy now want to rebuild credit

Helpful to 2 out of 3 people

I filed chpt.13 in June iast year,but it'hard for me paying my bills on time. I want to be n a position to pay on time, but my paycheck goes on the rent and electric bill which exceeds my paycheck Therefore I can't save any money at all. What can I do to get on track? I have no one that can help. It's my young son and I.

Reply by
fieldsvl

2 Contributions
35 People Helped
Helpful to 7 out of 7 people

Either get a second job or a less expensive living situation or both. Also: Apply for WIC, food stamps and any other aid you have available in your state. Check with the electric company to see if you qualify for low income rates, phone company too. Try to decrease the bills that are sending you over into debt. Even your landlord may be willing to renegotiate the rent if you have been a good tenant.

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0 People Helped

When can I rebuild after bankruptcy?

I have filed Chapter 7 Bankruptcy and will have my court date in one month. I have noticed two credit cards have fallen off my credit report two are still open and pending. I also show on my public record that I have filed bankruptcy. I would like to know when is the best time to apply for a secured credit card so that I can start rebuilding? And any secured credit card suggestions is helpful. I have been with my bank for 10 years, I was only negative once on my checking account, but they have not been very helpful in giving me advice or information. When my credit was good they didn't qualify me for a credit card. I wanted to build a good rapport with them since my checking accounts have been in great standing. I got into debt to unseen circumstances and now I am wanting a clean slate. Any info and adive is greatly appreciated. Thank you.

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3 People Helped

Helpful to 3 out of 7 people

I need  to build my credit after bankrupct

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Reply by
cvicious85

122 Contributions
82 People Helped
Helpful to 3 out of 4 people

Again you are not really providing any information for us to know what situation you are really in such as collections amounts, when did the bankruptcy expire/dismised?, what are the areas of your credit that are lacking? If you want people to help you then you should put more effort into your posts otherwise help isn't going to magically slap you in the face...

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11 Contributions
71 People Helped

You should give this a try...

Helpful to 2 out of 5 people

I had a pretty low credit score and recently I tried a new credit building strategy that is actually working out great for me. I actually cannot discuss exactly how this strategy works because I agreed not to share the companies strategy with anyone. It's their company policy but, besides removing of some errors and old reports from my credit report by way of writing a "dispute letter" (which I had help writing by using a free template from the same company that I taught me the "strategy") and watching my spending overall the results have been outstanding. I am completely happy with what I have been able to achieve so far. So maybe try them out for yourself... the website is called www.clevercreditscore.com and you can get the "dispute letter" free on the home page, they even have a video that gives you some pointers when writing and mailing your dispute letter. The strategy that I am using is called the "Credit Sky Rocket" system or strategy. Let me know if this helps. 

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