You will first want to take a look at your credit rating.
Order a copy of your credit report so that you know where
you stand. It is better to now what your credit looks like
now so that you can begin preparing for the future. There
are some steps you can take and methods to try in order to
begin rebuilding your credit after you have declared bankruptcy.
One way rather simple way to start the process of rebuilding
credit is to apply for a secured credit card. With this type
of credit card, you will have an account in which you will
deposit money. This account will be liked to your credit card.
The amount of your deposit will be equal to or in some times
greater than your credit limit. You can use a secure credit
card to begin rebuilding credit as most of these cards will
report to credit reporting agencies. Be sure to pay your bills
on time to ensure a positive report
Another options after bankruptcy is to apply for credit from
a source that does not have such strict lending standards.
This may be the case with a department store credit car or
a store line of credit. For example, you may be able to get
a line of credit at the local hardware store. Apply for credit
and when approved make some small purchases each month. You
can even pay your balance off in full each month. This is
yet another way to slowly begin building your credit history
again. Just remember the important of paying your bills on
time each month.
If you have recently declared bankruptcy, you may want to
try to obtain a small installment loan. This is a good start
to building a fresh credit history. You can make your loan
payments each month. Take your time paying off the loan so
that you have an established amount of time paying on a loan
that can be reported on your credit report. This method is
not always possible in the beginning. However, you may want
to consider finding out if anyone would be willing to cosign
for you a loan.
One of the most important things you can do to help your
credit in the future is to make sure you do not get yourself
into a situation like before when you needed to declared bankruptcy.
Do not take on more credit than you can manage. Have a budget
and include all your bills and payments so that you can keep
organized and be certain that you pay your bills on time each
and very month. You may have better credit faster than you