How to Raise Your Credit Score When You've Had a Bankruptcy

Fixing your credit score after a bankruptcy is key to moving forward. You can expect a huge drop in your credit score after a bankruptcy. Thus, it's imperative to repair your low score. This helps you acquire lower insurance premiums and better rates on mortgages and auto loans.

Instructions

1

Get your report a few months after the discharge. Request a copy of your report from Annual Credit Report to make sure your debts (the ones you selected) were included in the bankruptcy. If not, these creditors can continue to seek payment from you.

2

Start off on the right foot. If certain debts like your mortgage, student loan and auto loan were intentionally excluded from the bankruptcy, continue or resume these payments to quickly improve your payment history and raise your credit score.

3

Apply for a credit card. Use websites such as Creditcards.com to research credit credit cards for people with bad credit or secured credit cards, which can help fix your low score. Credit cards for bad credit have high interest rates, whereas secured cards require a security deposit that serves as collateral.

4

Establish a good payment record. Manage your money properly by paying your bills and necessary expenses before buying extras. Having available cash helps you pay your bills by their due date. Use online systems to ensure timely arrival.

5

Maintain low debts. Avoid future problems and maintain a higher credit score by paying off credit card balances in full each month. Don't purchase items you can't afford to pay off within 30 days.