- 1). Include all debts in your bankruptcy. Since you are filing bankruptcy to make a clear slate, it is important that you include all debts in your bankruptcy. While it will show that you filed bankruptcy, the creditors are not able to report you as delinquent.
- 2). Piggyback your credit. This is a really easy way to build credit. Piggybacking is when someone with good credit puts someone with bad credit on her credit account. The new authorized user is given a better credit score because she is given credit for the account holder’s good credit.
- 3). Get a new credit card. This may sound crazy to someone who has just been discharged from bankruptcy, but the only way to build your credit is to prove your creditworthiness. While it may be impossible to get an unsecured credit card, you may be able to pay high program fees and annual fees to open a subprime card. Another option is a secured credit card. A secured credit card works by putting money down to establish your credit line. If you want a $250 credit limit, you send a check for $250.
- 4). Find a co-signer. If you want a loan but do not want to pay the large interest rate, you can find someone with better credit to co-sign. When he co-signs, he guarantees that you will pay your debts. This is an affordable way to establish credit.
- 5). Pay your credit card in full every month. There is no need pay interest to re-establish your credit score.
- 6). Pay all your bills on time. Once you work to get access to credit, you need to make sure that are responsible. You need to pay every month on time to avoid any negative consequences on your account.
- 7). Make sure you don’t over-extend yourself. While you are working hard to re-establish your credit, make sure that you don’t find yourself in uncontrollable debt again.
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