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Repairing Credit After Bankruptcy

credit help after chapter 13If you’ve gone through a bankruptcy, you know that it represents a complete turning point in your life. You’ll likely be extremely conscious of how much money you spend in your daily life and how it affects all the other aspects of your life.

If you want to repair your credit after bankruptcy, don’t despair - it can be done. In the simplest of terms, credit repair refers to formally disputing wrong claims on your credit report and making personal lifestyle changes.

Checking out your credit report

A staggering amount (around 79%) of credit reports contain some sort of error.  Out of these errors, around 25% are serious enough to damage a credit score.  54% of these credit reports contain false identifying information such as a misspelled name, and 30% of these credit reports contain a credit account that is no longer open.

Because of these discrepancies, you should be monitoring your credit report on a regular basis.  It would be awful to have negative credit associated with your name because a previous tenant and you shared the same address.

Making personal lifestyle changes

The easiest and most responsible way to repair your credit after bankruptcy is to prove that you’re once again trustworthy with money. This can be done by making medium-sized purchases every month with your credit card and paying them off in a timely manner.  Once you’ve done this consistently for several years or months, you will start to see an increase in your credit score, which you want.  

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