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Summary: Establish good credit after bankruptcy by obtaining an accurate credit report, depositing money in a CD account and by making credit payments on time. Rebuild good credit a year after bankruptcy by being quick, efficient and responsible. Use tips from a lawyer in this free video on bankruptcy.
Andy Forman, Attorney at Law, has been in bankruptcy representation for over two decades and has lead council in over 3,000 bankruptcy cases. Forman is a member of the Florida Bar and...read more
"You're interested in filing a bankruptcy and you want to rebuild your credit as soon as possible. You actually want to rebuild your credit within a year of your bankruptcy. My name is Andy Forman. I'm a Business and Consumer Bankruptcy lawyer in Tampa, Florida and I deal with credit rebuilding issues day in and day out. Rebuilding your credit is somewhat of a subjective term, but it can be done. One of the things you need to do is to make sure that your credit report is accurate and correct after your bankruptcy. Having an accurate credit report is the cornerstone of rebuilding your credit as soon as possible. One of the things you want to do is to keep credit from before your bankruptcy, whether it be a mortgage or a car payment. One of the ways to help facilitate the quick rebuilding of credit is to acquire credit after your bankruptcy. Typically, you can go to your bank or your local credit union and start a secured credit card. Put a three or four-hundred dollar deposit in a CD and they'll give you a three or four-hundred dollar credit card and that way, on your credit report, you're showing old credit that survived the bankruptcy, being paid timely, and you're seeing new credit. Rebuilding your credit in a year is a stretch, but it's possible if you know what you're doing. My name is Andy Forman. Good luck with your credit."