Take Steps to Repair Your Credit after Bankruptcy

After filing for Chapter 7 or Chapter 13 bankruptcy, people will have to take additional measures to rebuild their credit scores.  Once people have filed for bankruptcy, it will appear on their credit reports for 7 to 10 years.  Once that time has passed, the bankruptcy is removed from the report and people have a clean slate. 

While people must wait 7 to 10 years for their bankruptcies to be removed from their reports, there are a few things they can due in the interim to rebuild their credit, such as:

• applying for new lines of credit and then acting responsibly by paying bills on time and keeping balances as low as possible.
• applying for installment loans, whether home loans or car loans, and then keeping accounts current.
• maintaining employment and making steady income, which can be used to pay debt and keep credit card and loan payments current.

If you are about to file for bankruptcy in Utah, contact the Stone Law Firm and explore your options with a Salt Lake City bankruptcy attorney!