Once you have filed for bankruptcy and your case has been closed, you may find yourself relieved but also scared about what comes next. Now that you have removed debt, you are still stuck with a bankruptcy on your credit and your credit score has likely gone down. It takes time to rebuild your credit but that doesn’t mean it will happen on its own. There are things you will need to do after your Atlanta bankruptcy so start rebuilding credit. Use these 7 steps to help get your credit back on track.

Get Your Credit On Track After Bankruptcypast future crossroad for rebuilding credit

  1. Don’t wait. As soon as your bankruptcy is over, you need to start working on your credit. You may not want to touch debt at all after bankruptcy but the sooner you start to work on it, the better.
  2. Apply for credit. Once you are ready to get back out there, you need to look at different lines of credit you can apply for. You should not apply for them all at once but you may want to consider a credit card, a car loan, or a personal loan to get you started.
  3. Pay your debts on time. When you have been approved for credit, you need to make sure you pay the debts on time. You can set up reminders in your phone for payments or set up an automatic payment so there is no way you can miss it. Missing a payment can significantly impact your score so this is important.
  4. Look at your credit. You may not like what you see yet but you want to make sure everything is being reported correctly. Any credit you have been approved for should show on your credit report as well as on time payments. If you see anything incorrect, make sure you reach out to get it fixed.
  5. Watch your spending. Even though you have a line of credit, do not abuse it. You should not max out your credit cards. Use only about 30% of your credit at any given time.
  6. Create an emergency fund. You should build up at least $1,000 in an emergency fund so that when you need the money, you are not tempted to pay for it with your credit.
  7. Continue. You should continue using and paying off your debt in a smart and planned way so your credit score can get better over time.

Contact An Atlanta Bankruptcy Attorney

If you are struggling with your new debt or want more information on how to navigate these waters, be sure to reach out to Atlanta Georgia’s best bankruptcy attorneys at Clark and Washington. We can help you understand how bankruptcy will affect your credit as well as offer credit counseling.