Restoring Your Credit

At the bankruptcy and debt relief law firm of Ammerman & Goldberg "Bankruptcy" Law Office, we are dedicated to helping people in Washington, D.C., Maryland and Northern Virginia resolve financial problems using Chapter 7 and Chapter 13 consumer bankruptcy laws. We then work with them to help rebuild their credit.

Today the stigma of bankruptcy has been considerably reduced. While a bankruptcy remains on your credit record for 10 years, you can take steps to re-establish your credit the day your debts are discharged. A majority of our Chapter 7 and Chapter 13 bankruptcy clients can finance an automobile soon after receiving a discharge. Many people begin receiving credit card solicitations within months of their bankruptcy discharge.

Know Your Rights And Regain Financial Security

Our attorneys have a wide variety of techniques to help our clients re-establish their credit after bankruptcy. If you are wondering how to rebuild your credit after bankruptcy, some steps our clients can take include:

  • Opening a checking account and savings account. Many lenders check bank accounts.
  • Pay your mortgage, rent, secured credit cards and utility bills on time. These are often used by lending companies to determine whether or not to lend money.
  • Apply for a secured card. These are credit cards where you deposit cash and charge against it.
  • Apply for credit cards at stores where you would normally pay cash.
  • Have a friend or relative co-sign a loan and then make monthly payments on time.
  • Buy a used car from a bankruptcy-friendly car dealer. Also, try finding a bankruptcy-friendly mortgage broker to refinance your home.
  • Avoid high-interest payday loans. These are credit traps and can lead to a circle of debt.
  • Write letters to every credit reporting agency. Explain why you filed for bankruptcy and what you are doing to avoid credit problems in the future.
  • Keep your debt-to-income ratio low. Do not let your consumer debt exceed 20 percent of your disposable income.
  • Live within your means.
  • Pay your reaffirmed, prebankruptcy, and Chapter 13 bankruptcy, consolidated debt payments on time.

Get Started Today

To learn more from one of our experienced attorneys, please call (301) 655-0606 for a free telephone consultation. You can also contact our lawyers for guidance by filling out our online form.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.