Recovering Credit After Bankruptcy

The Orange County bankruptcy law practice at Fishback Law Corporation offers its clients a unique service not likely to be found at any other law firm in Southern California, and we do it at no extra charge. We help people throughout the entire process of a Chapter 7 or Chapter 13 bankruptcy, including rebuilding and establishing a positive credit score soon after the bankruptcy. Some people may worry about the effect a bankruptcy will have on their credit rating, but the truth is that there are several things you can do to start rebuilding your credit immediately after your bankruptcy discharge.

Rebuild Your Credit With Credit Cards

A great way to establish or rebuild credit is by obtaining and using credit cards. You may think that it would be impossible to get a credit card after a bankruptcy, especially if you discharged a large amount of credit card debt and your current cards were canceled. This is often not the case, however. In fact, many people seem to be flooded with credit card offers after they emerge from bankruptcy. This is because post-bankruptcy your debt load and debt-to-income ratios are very low, making you very attractive to credit card companies.

If you can’t get a card from one of the major credit card companies, you may still be able to obtain a secured credit card. A secured credit card is one where your credit limit is secured by a payment or balance in your checking account or some other collateral. If you fail to pay your credit card bills, you could lose the security you put up for the card, but by making small charges and keeping your account in good standing, you can start restoring your credit right away.

At Fishback Law Corporation, we will teach you how and when to apply and use new credit cards to significantly improve your credit score post bankruptcy.

Credit Cards? Really?

Some people got into financial trouble in the first place by over-extending their credit, and to them the idea of starting up again with credit cards is dangerous. Out-of-control spending is, of course, a bad idea that will do nothing to help rebuild your credit, but after going through the bankruptcy process, including required credit counseling, if you feel that you can utilize credit cards responsibly, they can be a great tool toward rebuilding your credit.

Contact A Knowledgeable Attorney To Get The Bankruptcy Help You Need

Our Orange County lawyers understand bankruptcy law, and we work to achieve the best outcome for your needs and goals through Chapter 7 or Chapter 13. Our office is also fairly unique among bankruptcy law firms in that we continue to help our clients deal with life after bankruptcy by providing them with practical tips and clever strategies regarding rebuilding credit, money management and overall financial health, which we do AT NO EXTRA COST. Let us help you find your way to a brighter financial future. Call us at 949-274-7080 or send us a message online to schedule your free consultation.