Posted on 02 26,2013

Two of the most frequently asked questions during a bankruptcy consultation is what is the best way to establish credit and how to improve a credit score. After the bankruptcy discharge, the income to debt ratio will improve since a lot of debt has been eliminated. The bankruptcy filing process will be posted on the credit reports.

Here are a few simple tips that can help. In the process you may just become a better financial planner and manager of your household budget as well. Take a look at the following ideas to help restore your credit:

  1. Pay all monthly bills on time including car payments, utilities, cable bill, cell phone bills, and rent or mortgage payments. Develop a schedule for paying the bills and make sure you know exactly when the late penalties kick in. Never be late. Your credit scores should start improving.
  2. Apply for a secured card at your bank for around $300. Use the card wisely over a period of time and then increase the limits. The next step is to obtain one retail card and one gas card. Pay off the balances monthly for each card and after a year, you might want to consider applying for a single unsecured Visa or Mastercard.
  3. Prepare a budget each month and follow it. Record each expense daily and at the end of the month, review how you did. Develop a plan for saving even if initially this is a small amount and it continues growing your savings. The savings can be used to pay off any balances and can serve as a deposit on any necessary or emergency purchases later down the road.


Beginning this firm in 1996, the David McCormick Law Group was founded on the principles of integrity, commitment and service for our clients, ultimately leading to positive results. Our compassionate team of Virginia Beach lawyers has worked with 17,000 clients in the past 17 years, providing helpful debt relief solutions time and again. Client-focused and determined to succeed on behalf of all that come to us for legal help; it is our desire to find the option that works best for you or your family.

Offering a free consultation, do not hesitate to get in touch with our respected and renowned firm as soon as possible. Time is of the essence in these types of situations and we want to be sure that you get the financial peace that you both need and deserve. Call us today to discover how bankruptcy may be right for you and learn about we can help you with your credit.

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