While you can’t do too much during your bankruptcy case to actively increase your credit score, there are things you can do after your case is over to help.
One thing is you can get a secured credit card. This is basically like a prepaid debit card where you have to pay for it before you can use it. This helps you not overspend and end up back in bankruptcy. The very first question to ask the card issuer is whether they report to the credit reporting agencies. If they do not, then move on because it will not help you. You can set up a totally separate bank account and have your employer direct deposit a certain amount each paycheck into that account, and then have the card autopay from that bank account. Then use that card to pay something that stays the same each month like your Netflix or Hulu or phone bill. That way you don’t have to worry about the amount changing.
Another thing you can do is get a card specifically for something like gas, and only gas. Again, be sure first that the card issuer will report to the credit reporting agencies or this is not helpful. Then use that card each time you buy your gas, and you don’t buy anything else on it. You are really only looking to make regular charges and regular payments, and NOT carry a balance. You need to pay this off each month. Some people prefer to make a card payment right after they make a charge. Other people will just transfer the money to cover the charge to a separate account and wait on the monthly bill to arrive, then they have enough money in the separate account to fully pay off the bill. Some cards even have cash back or points you can earn. Just also be sure that you don’t have an annual fee because that will not be helpful at all.
Regardless of what you do, be sure to not carry a balance, pay your bill on time every month, and watch your credit report.
You can find more about your credit score at www.myfico.com.
Attorney Alissa Gay 