Wednesday, April 29, 2015

Bankruptcy - Rebuilding your credit after filing

One of the tips I give my clients about building credit after bankruptcy is to look for a secured credit card to start building credit. They need to find a card that reports to the credit reporting companies. A secured card is one where the card hold deposited money with the card issuer as collateral for the purchases made with the card. These cards are limited so the next step is to move to standard credit cards.

Here is a short article that offers suggestions on ways to get to the next step: How to Upgrade Your Secured Credit Card. This article discusses the following steps to try:

Image courtesy of Master isolated images
1. Make Sure You Pay All of Your Bills on Time

2. Pay off Your Balance (of your secured card)

3. Track Your Progress (check your credit score regularly to ensure it is going up)

4. Wait a Year (using a secured card)

5. Contact Your Secured Card Issuer (about upgrading to a traditional card)

6. Speak with Your Retail Bank (about a traditional card)

7. Apply for Cards Offered to Those with “Fair” or “Average” Credit
It won't happen over night but you can help the process move forward. For a few more details, check out the article.
If you want assistance, legal representation, or just want to know more about Mark Medvesky or Medvesky Law Office, LLC, check out my website at

#bankruptcy #Chapter_7 #Chapter_13 #Montgomery_County #law_firm #Bucks_County #Pennsylvania

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