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How can you repair your credit score after going through a chapter 7 bankruptcy?

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  1. Make sure you pay any other bills like utility bills, Dr bills you have accrued since the bankruptcy has been finalized. You may have to get a credit card that you get a low balance of and pay on that when the bill comes in. you will slowly regain a good credit rating. We did it almost 2 years ago, and our credit score is almost 700.
  2. I went through chapter 13, but repairing credit histories is about the same. First, ALWAYS pay EVERY bill on time if not early. It goes on your credit history and will definitely improve your score. Second, when you're able to get a credit card (and there are ones available for those who have bad credit histories), choose to charge only small items and pay the balance at the end of EVERY month. I've done both of those things now for the past 3 years and not only has my credit score improved, the company holding my credit card has increased my limit 2-3 times. I still only charge a couple hundred at a time and pay it off at the end of every month. The other thing I've done is purchased a Dell computer and opened an account with Dell. I paid more than the minimum due each month and paid the computer of within 6 months. All of these things shows that you are serious about managing money responsibly.
  3. First it takes 7 yrs for a bankruptcy to clear.There are a couple things you can do is apply for a secured credit card.They are usually around 200.00.dont spend it all at once make small purchases and pay the minimum payments.Dont try to pay it all off at once.There looking to see if you can commit to payments.After you have done this about 6 months to a year you will see an increase in your credit.As time passes you credit score will improve as long as you pay your payments and on time.It also smart to keep an eye on your credit report i went to freecreditreport.com.You need a credit card for id.If you dont have one go to cvs,eckerds and ask for a greendot prepaid credit card it cost 4.95 and you can put up to 500.00 cash on it and you can use it as a regular credit card but this will not help build your credit score.This will help you with your credit report and othe things like plane tickets,car rentals until you can get your credit back up.
  4. One of the most important things is to make sure that all the debts included in your bankruptcy were reported as being included. (You are entitled to 1 free credit report per bureau each year, see www.ftc.gov for details.) Beyond that, you may want to established a secured loan or credit card, make sure you pay this on time! Do not close out any old accounts that are still open, as that will hurt your credit rating. (35% of your score is made up of length of time you have had credit)
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