After you file for bankruptcy and have a minute to recover from creditor calls, you may face a new challenge. While your debts may have been cleared, you’ll now need to prove to future lenders that you’re trustworthy. The best way to do so is by raising your credit score. To make your numbers more attractive, use the following credit building tips.

3 Ways to Rebuild Your Credit

1. Get a Secured Credit Card

While you might not get approved for a standard, unsecured credit card right away, you can apply for a secured card. These cards require borrowers to back their credit limits with cash deposits. This way, if you don’t pay back what you owe, the lender can hold onto the deposit. Using a secured credit card and paying it back on time will slowly raise your credit score, so you can eventually start applying for unsecured cards again.

2. Ask to Be an Authorized User

If you're close with an individual who is willing to aid your credit-building journey, ask if they’ll add you as an authorized user to one of their cards. If they continue to make on-time payments on this card, and you refrain from using it, their credit will count towards your score. In other words, you can benefit from their positive track record without doing much at all. 

3. Monitor Your Credit Usage

As you start to gather credit cards or loans, you’ll need to exercise self-control to keep your credit score high. As a general rule of thumb, don’t spend more than 30% of your credit limit at once. Meeting minimum payments on-time is essential, but you should aim to pay off more than the minimum payment each month if you can. This will show lenders that you can make a significant change in your credit usage even after you file for bankruptcy.

If you need a fresh financial start after you file for bankruptcy, turn to William C. Rieth in Rochester, NY. This trusted attorney will help you file for bankruptcy, whether you’re better suited to Chapter 7 or Chapter 13. He has over 25 years of experience helping clients achieve debt relief, and is proud to lead a family-owned firm. For compassionate and calculated guidance, call (585) 232-6520 to schedule a free consultation. You can also visit the website to learn more about his services.