Well you’re thinking about filing bankruptcy
and you want to know how to reestablish credit after a bankruptcy. My name is Andy Forman.
I’m a business and consumer bankruptcy lawyer in Tampa, Florida, and I deal with these issues
day in and day out. One of the fundamentals to rebuilding credit after a bankruptcy is
to start out with an accurate credit report. Oftentimes when a bankruptcy is filed, the
credit report is in a state of shambles with charge-off activity, lawsuits, past due amounts,
and those items sometimes stay on there. It’s incumbent on you, the debtor, after your bankruptcy
filing, to correct the report. The next thing that you want to do, is any credit that did
survive your bankruptcy, a car payment or a mortgage, you want to pay that on time.
If you have late pay or slow pay after a bankruptcy, it’s going to be the classic seven years before
you have credit. You may want to go to your local credit union and see if they’ll give
you a secured credit card, or a…a car loan. Something that will establish new credit after
your bankruptcy. In summary, what you want to do is make sure your credit report’s accurate.
Pay the existing credit, and pay the new credit timely. You’ll be able to do it. My name is
Andy Forman. Good luck rebuilding your credit.