Sometimes there is no way around Chapter 7 bankruptcy. If you filed for bankruptcy in California, you will see a hit to your credit score. Fortunately, there are ways to rebuild your credit.
After Chapter 7 bankruptcy, your credit report will include the bankruptcy for up to 10 years. While your credit score lowers after a bankruptcy, this does not mean that you cannot raise it. According to Credit.com, it is important that a person monitor his or her credit. You will want to track your credit score and ensure that you are taking positive steps towards a better credit history.
Mistakes do happen and you may be missing information on your credit report. If this is a concern that you have, then it is important for you to report any inconsistencies as soon as you see them. You do not want your credit score to drop further because you missed an error on your report.
Secured credit cards may also help you to rebuild your credit following bankruptcy. With secured credit, you make the deposit and then borrow against the money that you added to the card. In addition, you may choose to sign up for a retail credit card. These credit cards have fewer requirements and are easier for you to rebuild your credit. Do not repeat any of your past mistakes with credit cards. You should always purchase what you can afford on your credit card and make the payment or completely pay off the purchase as soon as possible.
The above information is meant to educate on building credit. It is not to be interpreted as legal advice.