Can help you find the right lawyer to advise you when and if you should file for bankruptcy protection.

How quickly you recover from bankruptcy will totally depend on you.  Within two years, you could have a credit score over 640 if you are disciplined.  Within 2 years you could qualify to buy a home if that is your goal.


Here are 7 steps to an incredibly speedy recovery following bankruptcy.

  1. First Year Rebuild:  In the first year following bankruptcy discharge, use a secured credit card to build credit.  Keep your charges well below the cap, use the card regularly and pay on time each month.  This is not a way to give you fresh buying power, it is a way to document your rebounding credit worthiness.
  • Monitor your credit:
    • Make sure identity theft doesn’t destroy your recovering credit
    • Check to see if each account is reporting correctly.  Accounts included in the bankruptcy should not show an open balance.  Only those account you reaffirm or open after the bankruptcy should show a balance.  If you do not understand how this works, you need to have this discussion with your lawyer.
  • Make all of your account payments on time:  Your payment history makes up for 35% of your credit score according to lending tree.  Be consistent and be on time.
  • Remember why you filed for bankruptcy:           
    • Limit the new credit you apply for
    • Avoid high interest rates on credit.  Hint:  easy approvals usually mean high interest rates.  If the interest rates are high on mail offer credit cards, avoid getting those cards.
    • Follow a budget.  Make it a game if you need to, but follow a budget closely so your payments are on time and your spending is reasonable.
  • Keep the balance low on any credit lines or cards you have.  When you owe more than 50 percent of your credit.
  • Add to your credit mix gradually:  When you need to replace your automobile, the car loan can add to the mix, but don’t get a loan just to build credit.  Ask the lender whether the loan history will be reported and to which credit bureaus.  When rebuilding credit, you want your good payment actions to be reported.  Requesting credit too frequently can drop a score, so spread out the credit inquiries.
  • Start a rainy day savings account:  By putting money aside for emergencies, you won’t break the budget when one happens.

Recovering from bankruptcy demands willpower, patience and work.  It may mean an uncomfortable change in lifestyle.  But once you make those changes, you may be surprised to find you enjoy your new lifestyle more.  Not having overwhelming debt gives many a more enjoyable and satisfying life. can help you find a bankruptcy attorney, so you get the fresh start you need.  You can change the speed of your recovery.