Rebuilding Credit After Bankruptcy

Most people seeking Bankruptcy protection are not those who are looking for a way out after a spending spree.

On the contrary, the majority looking for assistance find themselves in a situation simply because “life happens.” Circumstances beyond their control, such as a divorce, illness, or job loss, hinders their ability to pay their bills which in turn brings them to my door. It is in these instances that Bankruptcy is a great tool to get a fresh financial start.

So often clients say they are never getting a credit card again, but in order to improve your credit score so you can obtain a car loan or mortgage in the future, you will need to use a credit card to rebuild your credit history.

However, I always caution clients, as it relates to getting credit after the Bankruptcy filing, to remember the goal is to rebuild your credit...not to repeat the damage. Therefore, I recommend obtaining a credit card shortly after your Bankruptcy has been discharged and to use this card for small purchases to be paid in full every month.

By using and paying off your debt, you will demonstrate your ability to be a responsible borrower, and this will help you rebuild your credit!

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Southern New England

The Law Offices of Tara M. George offers services to the people of the cities and towns of Dartmouth, New Bedford, Fairhaven, Westport, Acushnet Mattapoisett, Marion, Wareham, Fall River, Swansea, Seekonk, Somerset, Taunton, Raynham, Rehoboth, Middleboro, Lakeville, Dighton and all surrounding areas.

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The information contained in this website is neither legal advice nor should be considered a substitute for legal advice. No Attorney-Client relationship has been created between the reader of this website and the Law Offices of Tara M. George and as such, no legal advice has been rendered. // You should consult an attorney for advice as it pertains to your specific set of circumstances and facts. // All information contained in this website is considered advertising under the rules of the Supreme Judicial Court of the Commonwealth of Massachusetts.

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