Many of my clients report they can obtain new credit very soon after receiving their bankruptcy discharge. My review of credit scores reveals that their scores generally improve significantly 18 to 24 months after discharge. Some clients have reported very good automobile loans within a year after receiving their bankruptcy discharge. Some clients have obtained a home loan within one year of discharge. I advise my clients to begin rebuilding their credit immediately after discharge. One of the best vehicles to rebuild good credit is to obtain new credit, use it regularly and pay the monthly bill in its entirety each month. Doing this will re-establish good credit quickly. Credit scores will improve correspondingly.
If you have questions about filing for Chapter 7 or Chapter 13 bankruptcy, we are here for you. Contact us today at (888) 910-6652 to schedule your free initial consultation with an experienced bankruptcy lawyer.