Rebuilding Your Credit

Rebuilding Your Credit after Bankruptcy…

Bankruptcy does have its down-sides and what happens to your credit rating is one of them. Many of the clients we see have mixed feelings about this. On one hand, most are leery of the trouble that having credit can get you into you and feel more much more at-ease just not dealing with it altogether. On the other hand, modern day economic realties dictate that for some things — getting a car, buying a house, or purchasing plane tickets to name a few — you simply have to have it.

What to do.

At Redman Ludwig, P.C., our bankruptcy attorneys have been helping clients in Central Indiana deal with bankruptcy and credit issues for more than 27 years. As a result, we can provide you with the guidance you need to reestablish and manage your credit successfully. Steps to consider include:

• Ask someone familiar with your situation to have you named as a co-maker on their credit card. This is an excellent way to start rebuilding credit immediately while not actually extending your finances.
• Set a reasonable goal and start saving a small amount each week. In six months or so, you can use this money to obtain a secured credit card in your own name or, if you are still uncomfortable with the idea of having access to credit, keep it in a savings account for emergency use only.
• Monitor your credit rating with the three major credit reporting bureaus, TransUnion, Experian, and Equifax. You are entitled to receive one free credit report each year from each of these credit reporting agencies. Use that right.
• If you are in a Chapter 13, continue making regular payments to your bankruptcy Trustee, pay bills and utilities on time, and alert the Trustee or any creditors you have reaffirmed with or added since the bankruptcy as soon as possible about any potential problems that could cause you to miss or underpay a payment.

Central Indiana Bankruptcy Solutions — Toll Free (866) 755-0811

For answers to your questions about rebuilding credit after bankruptcy, consumer debt counseling, or mandatory consumer credit counseling — call our personal bankruptcy lawyers in Indianapolis directly or reach us online by completing the brief form located on the contact us page of this Web site. We offer reasonable payment plans and will deduct initial consultation costs from your fee should you decide to retain us.

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