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Bankruptcy Happens, Now How to Improve your Credit Score

If you recently filed for bankruptcy, you are more than likely worried about your credit score. It is natural to want to jump in and clean up the mess of a low or damaged credit score. At Skrupa Law, we specialize in bankruptcy and we have helped hundreds of people get back to sound financial planning and preparation. See below for a few tips our team at Skrupa Law put together if you are looking improve your credit score.

Know Where You Are and Where You Are Going

Check your credit score every 6 months by using a free credit site like has a convenient app for your phone as well. You can check it as often as you’d like without any marks against your score. You’ll want to make sure that every charge that was included in the bankruptcy is deleted from your credit score and that everything is accurate.

Tie Up All Loose Credit Debt

If you are trying to settle a debt left on your credit score that was not part of the bankruptcy, make an offer to pay off a percentage of your debt in exchange for having the account settled and removed from your credit score. Lenders often agree to this kind of settlement because they’d rather have some money than none. Tying up loose ends in this way can increase your credit score considerably.

Review and Dispute Incorrect Charges

If you find a mistake on your credit score and want to dispute that item, do it in writing with the credit bureau instead of over the phone. It’s always wise to have physical evidence of these kinds of exchanges in case you’re asked to refer to them later. Additionally, letters are physically put into a computer by a person, therefore your information will be seen. In the letter include your name, social security number, address, birth date, and the accounts you are disputing and why.

Determine Your Next Move

If you are looking to rebuild your credit score, know that in most cases it is a slow process. While it’s common for a person’s score to drop drastically based on a few mistakes, it often takes months or years of good credit behavior to get things back where they should be.

The first key to rebuilding credit is learning from your previous mistakes. When you are ready to rebuild your credit you can start by applying for 1-3 secured credit cards. Make sure to get a card that will let you put down large deposits. The higher the deposit you put down on the card, the more credit the 3 major bureaus think you have access to, and it will boost your score.

Tip: When you get these cards, use all of them, but only use them for small things. Then pay them off entirely each month. If you cannot pay of the credit card in full, always try to keep the balance below 25% of the total credit limit. If you do not, your credit score will go back down. You do not want this to happen.

Good secure credit cards allow a high deposit to be put down and report to all 3 major credit bureaus. Capital One does this, and there are many other available secure credit cards as well.

Contact Skrupa Law Today at (402) 512-6094 in Omaha and (402) 464-3311 in Lincoln

If these tips interested you and you would like more information on how to improve your credit score or any other questions about bankruptcy, please call Skrupa Law today at (402) 512-6094 in Omaha or (402) 464-3311 in Lincoln.

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