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How to Rebuild Credit After Bankruptcy

Filing for bankruptcy will have a serious effect on your credit score. However, it is not impossible to repair your score once your bankruptcy case has ended. Through responsible financial management, you can rebuild your credit score and be back on track of your finances.

After you file for bankruptcy, your credit score may drop at least 200 points. If you file for Chapter 7 bankruptcy, it is important to be aware that this will show up on your credit report for 10 years. If you file for Chapter 13 bankruptcy, it will show up on your credit report for 7 years.

Filing for bankruptcy will not necessarily prevent you from getting a loan, house, car, or credit cards – it is just a factor that a lot of lenders use in determining whether they want to provide you with a loan or credit. Credit will be offered, but it may come with higher interest rates and a lower limit for spending.

In order to rebuild your credit, it is imperative that you pay all of your bills on time. This will show creditors that you are financially responsible. Another way of rebuilding your credit is monitoring your credit report. Staying up-to-date and making sure your credit report is correct is imperative.

Need Debt Relief? Call Ohio Bankruptcy Lawyers Today.

Whether you’re deep in debt or struggling to stay up with bills, there’s a solution to your financial situation. The Ohio bankruptcy lawyers at LHA have the knowledge and experience to fight for your best interest. Contact a Cleveland bankruptcy attorney today to learn about your life after bankruptcy and discuss your options at or email us at advice@clevelandbankruptcyattorney.com.
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