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Can I Rebuild My Credit After Bankruptcy Discharge?

Rebuilding your credit after bankruptcy discharge is simple and quick.


Some people believe that filing for bankruptcy can permanently destroy your creditworthiness. However, this is not true. Your credit scores are not permanent. While a record of the bankruptcy will remain on your credit report (for seven to ten years after the file date), you can start to improve your scores after filing.

  1. Pull your credit reports. The information in your credit reports is used to determine your credit scores. You can pull your three credit reports for free once per year by using annualcreditreport.com. Dispute any errors on your reports for a quick credit boost. Keep a close eye on your reports as you improve your credit.
  2. Make payments on time. Payment history is a major factor for determining your credit scores. Late payments on any remaining debt obligations will hurt your credit worthiness. Timely payments will improve your credit.
  3. Be responsible with credit. You may be able to qualify for a secured credit card. These are credit cards that require an initial deposit, typically of a few hundred dollars. If you decide on using a secured credit card to rebuild your finances, avoid overusing it and always make payments on time. Avoid closing a credit card, as it could lower your credit scores.
  4. Save for an emergency. Unexpected costs, such as medical bills, could damage your credit scores if you are unprepared. An emergency savings account could help pay for unexpected costs.
  5. Avoid credit repair services. There are credit repair services that prey on people who are going through difficult financial situations. Some credit repair services may scam you or charge excessive fees.

Can Waiting to File for Bankruptcy Damage My Credit?

Some people in difficult financial situations may delay filing for bankruptcy out of fear of what could happen to their credit scores. Depending on your situation, you may cause more damage to your credit by waiting.

If you are struggling with debt and want to explore options for relief, then you should contact our law office. Texas bankruptcy lawyer David Shuster could help you determine whether bankruptcy is the right choice for your situation.