There is no reason to be ashamed if you have had to file for bankruptcy. You show a sense of responsibility by recognizing you are in financial trouble. Even though the filing protects you from creditors, it will have a lasting effect on your credit standing. Depending on if you file for chapter 7 or chapter 13, a bankruptcy typically stays on your record from 7 to 10 years. However, you can rebuild your credit with assistance from a bankruptcy attorney in Howard County, MD.
At The Ingram Firm LLC, our legal staff specializes in helping clients re-establish their credit. While it may be difficult to believe, one of the best things you can do is apply for new credit. Gas cards, secured credit cards, and small loans allow you to show lenders you know how to be responsible. Make every attempt to keep credit card balances at a minimum so that you won’t have any problem paying what you owe.
You can see your credit score gradually go up when you commit to paying bills on time. Timely payments on debt incurred outside of the bankruptcy and paying more than the minimum required will work in your favor. With the assistance of a bankruptcy attorney, you can ask creditors to report your on-time payments to the credit bureaus. Your diligent payment history will help improve your credit score.