Contrary to popular belief, a bankruptcy does not mean the end of good credit forever. It is quite possible to repair your credit after you have filed bankruptcy. For the most part, it might even be easier than if you still owed the bad debts and were trying to clean up your credit reports. You must realize that cleaning up a bankruptcy on credit will take a little time and patience as all accounts associated with the bankruptcy will have to be cleaned as well.
First of all, if you think that cleaning up your credit reports once you filed bankruptcy will be easy, please think again. There are some things that you must learn before attempting to clear your credit or you can and will do more harm than good. You must also realize that re-establishing credit after your bankruptcy will take some time. Please do not expect this process to take 24 hrs!
Please follow these simple proven methods to help to clean your credit bankruptcy on credit including:
Keep any accounts open that DO NOT have to be included in your bankruptcy. The account history of these accounts will simply help to make your credit score increase faster than if you closed every account that you had. So, if you have any credit accounts that have good payment history and little or no balance, please keep these open or re-affirm them in your bankruptcy papers. The positive history will stay on your credit report.
Hire a professional to clean your credit reports from all errors. The simple fact is once you file bankruptcy; your credit reports will be full of errors. A lot of creditors simply do not update accounts once they have been written off. These accounts will be easy for a professional credit repair service to remove from your credit reports. Removing as much negative as possible will make the positive credit that you have and establish that much more powerful.
Slowly apply for new credit once you have seen a fair amount of the negative items cleared from your credit report by the professional credit repair service that you hired. The new accounts (along with any old accounts that you might have kept open) will offset any negative information that you might still have on your credit reports from your bankruptcy. Remember the 30% rule of thumb: Keep all balances on credit cards below 30% of your available limit to have as much positive impact as possible! Do not run up the balances of your new cards!
Filing bankruptcy is not the end of the road. Getting a fresh start is not as hard as you might think if you have the proper tools and the motivation to get started! I personally recommend Lexington Law Firm for credit repair as they have helped over 500,000 people to clean their credit reports and repair their credit! For more information, please visit my Lexington Law review page.