Raising Your Credit Score After Bankruptcy

While bankruptcy was your only solution when the bills became too much to bear, your credit score took a hefty nosedive. Is there anything you can do to restore the credit? Yes there is! While it may take a while, bankruptcy is not by any means a final death knell.


your credit score



You can improve your FICO credit score (or other credit rating scores) after Chapter 7 or Chapter 13 bankruptcy by taking a few positive steps

Follow the bankruptcy plan completely

Pay any new bills or credit on time

Use secured credit cards (requires cash deposit)

Reduce your credit utilization rate. This is the ratio of your outstanding credit card balance to your credit limits, and should be no more than a third of your credit limit.

Use retail credit cards which typically have looser credit requirements

If you need a loan, consider a secured loan. In a secured loan, you pledge assets against the loan.