Call: 856-963-5000Schedule Your Free Consultation
We offer a Free Consultation in any of our 4 offices or virtually, as needed.
Menu ☰

Four Steps to Repairing Credit After Filing Bankruptcy

“I would personally like to thank Mr. Spiller for what he has done for me. He saved my house that my children & I have lived in for the last 22 years from foreclosure and I'm sure he would do for you as he has done for me.” -- Kimberly M.

Four Steps to Repairing Credit After Filing Bankruptcy

According to the Administrative Office of the U.S. Courts, almost 1.5 million people filed bankruptcy in fiscal year 2011. In New Jersey alone, 36,961 people filed bankruptcy, according to data from Epiq Systems. Filing for bankruptcy deals a blow to a person’s credit score, but by following a few simple steps a person can successfully rebuild credit.

Check Credit Reports

People who have recently filed bankruptcy should review their own credit reports to ensure the accuracy of all of the information on them. People need to make sure that all of the debts that were discharged in bankruptcy show a zero balance on their credit reports; otherwise, misinformation may damage credit scores even further.

Pay Existing Bills on Time

A bankruptcy debt discharge does not eliminate all of a filer’s debts. Obligations such as student loans, child support payments and some tax debts survive a bankruptcy filing. People can use these obligations to help rebuild their credit histories by consistently making timely payments.

Additionally, some credit reporting agencies are now including rental history on credit reports, so paying bills such as rent could also help repair a person’s credit score. People need to check with landlords to find out whether landlords report rent payment history to credit agencies.

Secured Credit Cards

Those who have filed bankruptcy may want to consider opening a secured credit card. With a secured credit card, the borrower deposits money equal to the credit limit on the card with the lender to offset the risk that the borrower may default. Using a secured credit card wisely and paying the bill on time each month can help show potential creditors that the borrower is responsible.

Experts caution people to look for a lender that will not charge fees on a secured credit card and to make sure that the lender reports secured credit card payments to credit reporting agencies.

Be Cautious

People looking to rebuild credit need to be wary of credit-rebuilding scams. Companies that promise to rebuild credit cannot do more for a person than the person can do alone by paying bills on time.

People should also proceed with caution when considering taking out credit with finance agencies offering loans with high interest rates and high fees. Credit from such agencies does not look as good to other potential creditors as credit from a mainstream lender.

Repairing the damage that filing bankruptcy does to credit may seem like an insurmountable challenge. However, with the passage of time and a responsible payment history, it is possible to achieve a good credit score again.

Contact the South Jersey Law Firm of Brenner Spiller & Archer

Continuing to struggle with debts you cannot pay will do more damage to your credit report than making use of constitutionally guaranteed debt-relief programs. Contact our New Jersey bankruptcy attorneys online or call 856-963-5000 to schedule a free initial consultation to learn how we may be able to help you.

Request Your Free Consultation

    Our Office Locations



    125 NJ-73 North
    West Berlin, NJ 08091

    Phone: 856-963-5000

    Fax: 856-858-4371

    MAP & Directions


    33 Grant Street
    Mt. Holly, NJ 08060

    Phone: 609-303-5060

    Fax: 856-858-4371

    MAP & Directions


    1063 E Landis Avenue
    Vineland, NJ 08360

    Phone: 856-406-2332

    Fax: 856-858-4371

    MAP & Directions


    57 W. Main St.
    Freehold, NJ 07728

    Phone: 732-338-0659

    Fax: 856-858-4371

    MAP & Directions