Many people already have bad credit by the time they visit our law office. Still, they worry that filing for bankruptcy will make a bad situation worse. At the Law Offices of Campbell & Coombs, P.C., we often counsel our clients about rebuilding their credit after bankruptcy.
We often explain to clients that:
- You will be solicited for car loans and credit cards within days of filing for bankruptcy.
- If you have a job, you will usually be able to reestablish your credit in a year or two.
- You will probably be eligible to buy a house within two years.
Often, the only thing standing between you and good credit after bankruptcy is knowing what steps to take next. Talking with an experienced attorney can help you understand how to get a credit card (or how to avoid one), how to get a car loan without paying too much interest, rent an apartment, buy a home or even refinance.
Rebuilding Your Credit After Bankruptcy
There are several ways that you can rebuild your credit after bankruptcy. Many people find that the easiest way to start re-establishing credit is with a secured credit card with a local credit union or bank. To get started, you provide the bank with a certain amount of money and receive credit in that amount. By making regular payments on your card, you can begin to rebuild your credit.
After making regular payments for a set period of time, often 12 to 24 months, you may be eligible for an unsecured credit card. A card is "unsecured" when you do not need to give the lending institution money before credit is extended to you.
You may also apply for secured or unsecured loans, or use retail or gas credit cards after bankruptcy. It is often possible to received credit from banks and credit unions. However, it is important that you avoid high fees and interest rates and make smart decisions about debt — otherwise you could face financial problems again.
Contact a Phoenix Credit Score Attorney Serving Clients Statewide
It is possible to restore your credit after bankruptcy. Don't let fear of a bad credit score keep you from seeking freedom from debt. To talk to a Mesa attorney about credit restoration and bankruptcy, call for a free and confidential consultation. Our bankruptcy lawyers serve clients statewide and are available by calling 480-630-3186 or toll free at 866-430-1277. You may also contact us online.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
