Bankruptcy affects your credit by lowering your score (unless it's removed). According to FICO, someone with perfect credit can expect a drop in their score by up to 240 points. On the other hand, someone with a more modest score might see a 150 point drop.
We recommend 5 steps to help bankruptcy from affecting your credit:
- Open two credit builder cards (payment history is 35% of your score)
- Open one credit builder loan (credit mix is 10% of your score)
- Find a friend or family member to add you to their old credit card(s)
- Find a friend or family member willing to co-sign for a home, apartment, or car
- Dispute the accounts for validity and accuracy
Get Your Bankruptcy Removed Professionally
In some cases, we recommend speaking with a Credit Repair professional to analyze your credit report. It's so much less stress, hassle, and time to let professionals identify the reasons for your score drop.
If you're looking for a reputable company to increase your credit score, we recommend Credit Glory. Call them on (800-807-4388) or setup a consultation with them. They also happen to have incredible customer service.
Credit Glory is a credit repair company that helps everyday Americans remove inaccurate, incomplete, unverifiable, unauthorized, or fraudulent negative items from their credit report. Their primary goal is empowering consumers with the opportunity and knowledge to reach their financial dreams in 2020 and beyond.