How do I Rebuild Credit?
After you are discharged from bankruptcy and perhaps even before you are discharged from bankruptcy, it is time to start researching what steps you need to take in order to rebuild your credit. Once you are discharged, you will be essentially starting over at zero in terms of credit history and standing. Step 1: Research all major credit card companies and find out who is willing to give you a credit card. You may have to apply to a few different banks in order to get approved. Each application reduces your credit score. Mastercard has several credit cards such as Capital One, Canadian Tire and Affirm may be a place to start. You may want to research pre-paid secured credit cards as a safe place to start. Once you have been approved, use your card each month but be careful never to exceed the card limit. It is crucial to pay off these cards in full each month to improve your credit history—this is your fresh start and the foundation of good credit history, it will give you more freedom in the future. Good Luck!
Contact Rumanek & Company Ltd. for more information on bankruptcy and debt solutions. Or please fill out the free bankruptcy evaluation form. To learn more please visit our YouTube Channel. Rumanek & Company have been helping individuals and families overcome debt for more than 25 years.