rebuilding credit after bankruptcy

Credit bureauMany of my clients express concern over their ability to obtain credit and take out loans after they have gone through a bankruptcy.  I have written in great detail about the topic, and included tips on rebuilding credit after bankruptcy, so I won’t rehash it here.

Instead, I suggest that if you have gone through a bankruptcy, and are in the process of using my tips for rebuilding credit, you get your credit reports each year and review them for errors.  You can do so at http://www.annualcreditreport.com/.

When you go to the site, focus on the credit reports rather than on any ads that may pop up.  After all, the point is to see what’s going on with your credit, not to purchase goods and services you probably don’t need.

As you review the reports, keep in mind that the reporting bureaus rely on your creditors, and not on you, for their information.  Therefore, if a creditor has sent erroneous data the report will contain errors.  These errors can be fixed.
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Many potential bankruptcy clients tell me that they are concerned about the possible ill effects of bankruptcy on their future credit rating.  They are surprised and pleased to learn my tips for rebuilding credit after bankruptcy.  Let me begin with a bit of background.

I.          Your Current Credit Is Poor

When someone calls a bankruptcy