Chapter 13 gives you a chance to catch up on your debts and make a new beginning. But part of that new beginning is rebuilding your credit. A strong credit score helps you qualify to buy a home, vehicles, and all the other major purchases life brings.

But before you can start rebuilding your credit, you need to qualify for credit. With a Chapter 13 bankruptcy in your recent history, that can be tough. However, some lenders understand this Catch-22 and give credit-challenged consumers a chance.

The Craig Black Law Firm has helped numerous clients through the bankruptcy filing process. My personalized approach can help you navigate the process. If you're considering filing for Chapter 13, call me at 678-888-1778 or fill out this confidential contact form.

Rebuilding Credit After Bankruptcy

Whether you file for Chapter 13 or Chapter 7 bankruptcy, the filing remains on your credit score for a while. If you're filing Chapter 13, though, it should be off your report in seven years, compared to 10 years with a Chapter 7 filing.

While you do have to wait for your Chapter 13 bankruptcy to be discharged to apply for credit, you don't have to wait seven years for it to disappear from your credit report. You can get to work on improving your score immediately after your discharge. The right credit card can give you a head start on rebuilding your credit even while you're working on your repayment plan.

Secured Credit Cards

One of the easiest ways to rebuild your credit is to get a credit card, use it lightly, and pay off the full balance each month. Even with a bankruptcy filing, you may be able to get a secured credit card, which has you placing a deposit that becomes your credit line. You'll use that credit line to make purchases, putting the money back as you deplete it.

Some secured credit cards to check out include:

• Discover it^® Secured credit card
• OpenSky Plus Secured Visa® Credit Card
• First Progress Platinum Select Mastercard® Secured Credit Card

Unsecured Credit Cards

Yes, you can qualify for a credit card without a deposit, but there's a price. These cards typically come with hefty interest rates and annual fees. Here are a few with minimal credit requirements and no deposit required:

• Credit One Bank® Platinum Visa® for Rebuilding Credit   
• Prosper® Card
• Petal 1 Credit Card

Rebuilding Your Credit

Getting a credit card is the first step. You'll need to work each month to get your credit score on track. It takes time, but the rewards will be worth it. Here are some tips to maximize your results:

• Make small purchases
• Never miss a payment
• Monitor your score to keep an eye on your progress
• Keep your credit card usage to a minimum, even after your credit score improves

How We Can Help

The Craig Black Law Firm helps clients throughout their bankruptcy filing. If you need help with your bankruptcy, give us a call at 678-888-1778 or fill out this form, and I'll be in touch.