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How to Improve Your Credit Score After Declaring Bankruptcy

Posted by Charles W. Daff | May 27, 2020 | 0 Comments

While bankruptcy may feel like the end of the world, it can be the fresh start you need to reach your financial goals. Bankruptcy is your first step to re-establishing a good credit score. However, your credit score will not improve with the snap of your fingers; it requires your time and effort.

Below you will find ways you can improve your credit after bankruptcy.

How is a Credit Score Determined?

A credit score is a number ranging from 300-850 that dictates an individual's worthiness for credit. When a person's score is higher, they are more likely to be given credit opportunities. They are more attractive to a creditor than someone with a lower score. The number is based on credit history, which is comprised of how many open accounts, levels of debt, and repayment history. A credit score helps determine the likelihood of the person paying off their debts on time.

Repayment of Debt

While bankruptcy can eliminate plenty of debt, it does not erase all debt. Secured debts, specifically, will survive filing bankruptcy and are still required to be paid back. Debts that are not discharged are still reported to credit agencies and can either help or hurt your credit score. Begin improving your credit score by paying these debts off on time. For example, if you file for Chapter 7 bankruptcy and have a car loan, but you would like to keep the car, you can continue making payments towards the vehicle according to the terms in your loan documents. These payments, if made on time, can help improve your score.

Use a Secured Credit Card

Using a secured credit card can help rebuild your credit score. A secured credit card requires a deposit to the creditor that equals (or nearly equals) the maximum credit line available. If you stop making payments, your deposit acts as a safety net, and the lender will keep the deposit as payment. It is similar to a debit card, as there are funds to back up the charges. But unlike a debit card, in that, a secured credit card will help improve your credit if repayment happens on time. Secured credit cards appear as standard credit accounts on reports.

Engage Other Credit Types

To improve your credit score, try employing other types of credit. While many lenders are uninterested in offering credit to someone who just filed bankruptcy, others are marketing to those emerging from bankruptcy. Even though you are considered a risky buyer, you may be able to reestablish your credit score by getting a new loan and making payments on time.


Filing for bankruptcy can be the fresh start you are seeking. If you find that bankruptcy is your only option or are considering filing, call on Charles W. Daff, Bankruptcy Attorney. With over 43 years of experience in bankruptcy law, you can trust Charles W. Daff to navigate this overwhelming time and guide you through this legal process. If you reside in Orange County, Riverside County, San Bernardino County or Los Angeles County and are considering filing for bankruptcy, contact us today to schedule your free initial consultation.

About the Author

Charles W. Daff

Charles W. Daff is a Certified Bankruptcy Specialist by The State Bar of California with over 46 years of experience as an attorney for debtors and creditors. Charles represents clients in the United States Bankruptcy Court, Central District of California in all of its Divisions. Charles Daff is ...


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