Repairing your credit
Working to repair your credit will take time to help you reestablish a good credit rating. Remember that persistence will pay off in the long run. After you have been discharged from your bankruptcy, credit reporting bureaus report the bankruptcy assignment 7 years from the date of the discharge.
Tips and Advice on Repairing your Bad Credit
If you do not already have one, open a savings account. Having a savings account is a good idea regardless, as it is advised to have some savings available for any possible emergencies that can arise. Once you have your savings account opened, start making regular deposits. Try to keep making deposits every payment or on a monthly basis.
Talk to your banker. Make an appointment, meet with them and let them know you are working on repairing your credit. They can help provide some additional advice and tips from their perspective.
Make sure you do not get a large number of credit applications in a short time frame. Having too many possible lenders ask for your credit history in a short time could have negative results on your credit score.
With credit cards, typically the higher that your balance is, the more this can affect your credit score. If you do have a credit card, try to keep the balance low. Also with your credit card or line of credit, it is important to make regular payments, and avoid missing any payments as missing payments can have a negative effect on your credit rating.
To repair your credit rating, it will take time to help reestablish a good credit rating. Lenders need to see that you are able to make your payments on time, and that you are properly handling all of your loans and/or credit cards.