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Originally Posted by Gaud
My wife and I filed for bankruptcy back in Febuary of this year, and I was wondering. How soon after the bankruptcy is completed can you begin to see your credit rating go back up? Any tips on how to raise it at a decent rate over time...We'd like to eventually get a home, but we really need a car ATM...
Thanks,
Ben
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Sorry for the delay -
Basically, you scores will slowly begin to rise as soon as your bankruptcy is discharged. To help them increase faster, I would suggest opening some new trade lines - and always, always, always pay them on time. This is especially important once you have declared bankruptcy, as some lenders will lend out after bankruptcy, but only if there isn't a single late payment after it is discharged. To begin getting some credit back, I would suggest opening some secured lines of credit, possibly a secured credit card as well.
If you need anything else, just let me know!