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How Can I Repair My Credit After Bankruptcy?

April 13, 2021

For many people, their biggest concern when considering bankruptcy is the impact it has on your credit score. Sure, your credit score will take a hit upon filing bankruptcy but quite honestly, if you had to file bankruptcy because you couldn’t pay your bills, it probably wasn’t great to begin with. On the bright side, your debts will be wiped out and your score can really only go up from here!


A credit score is a number assigned to you based on how reliable you are at repaying debts. There are a number of other factors that are taken into consideration such as your credit history, how many credit cards you have, how many payments you’ve missed, and how long your accounts have been open. Your credit score is referred to any time you make a big financial commitment to something. If you want to apply for a loan, the lender will look at your credit score. If you want to buy a car, they will look at your credit score. If you want to apply for an apartment…you guessed it! They look at your credit score.


After you file bankruptcy, you will actually get a number of different credit card offers because these companies know you have to pay your bill each month. You should get a credit card and only put small charges on it that you know you will be able to pay on time and in full. On time and in full are the two keys to building your credit again. Over time your credit score will climb as long as you make all of your payments.

If you are considering bankruptcy and need assistance from an experienced attorney, contact our firm today.

Juan C. Velasco, Esq. is a trusted attorney who concentrates on bankruptcy, family law, real estate, and estate matters who has been serving the New Jersey area for over 25 years. If you are in need of experienced legal counsel, please contact Velasco Law Office and we will be happy to assist you.