How To Boost Credit Score While In Chapter 13

How to boost credit score while in chapter 13? First, know that you will have a drop of around 240 once your Bankruptcy is in place. 

Other than the drop, a bk can stay on your credit report for seven years. A BK7 will be on your report for ten years unless something is removed.

But, you can rebuild your credit, especially since lenders favor Ch 13 Bankruptcy - here are action steps to make that happen.

7 Essential Steps: 

How To Boost Credit Score While in Chapter 13

  1. Get Someone you know with good to excellent credit to add you as an Authorized User
  2. Send out dispute letters for any inaccuracies on your credit or hire someone to
  3. Have someone cosign on a home, car, or apartment
  4. Open Secured Credit Lines
  5. Get a Secured Loan
  6. Do Not be late on any payments
  7. Consistently Monitor your credit report

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What’s the average credit score after chapter 13 discharge? 

The amount of credit points that drop depends on the length of your plan. It also depends on where you started and the resources that are available to you.

Still, The Ch 13 notion will drop from your credit reports 2 or 4 years after receiving your discharge.

Want to request a closer look at errors in your credit report? Click here and use this form to request a credit reporting agency to reinvestigate disputed items in your credit files.

how long does it take to rebuild credit after chapter 13? 

There is no one answer to this question. You can estimate how long it will take to rebuild based on your situation and then how fast you put the top 5 or the 7 listed above in action.

The faster you act on those steps and you stay the course will be how your timeframe. We’ve seen people see a nice boost in 2-3 years.

Need to clean up errors on your credit report? Click here to use this form to ask a creditor to take the necessary steps in order to clear up errors on your credit report.

Will my credit score increase after chapter 13 discharge? 

Not all will see an increase. There are cases when you can see an increase in your FICO score after chapter 13 discharge, but if you want to see a significant increase you should be proactive to counteract the red flags that filing for Chapter 13 raises. 

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Good Luck Moving Forward

On top of the list above, make sure you take advantage of the free consultations these credit repair companies offer. 

If you decide to work with them, it may speed up your credit rebuilding process, and if not, it's a free credit analyzer. 

Also, make sure whoever you ask to co-sign and/or allows you to be an Authorized User has a 700 credit score or higher. They can have a lower score, but the better their credit the better your boost.

Overall, take all the action you can and utilize all the resources you have at your disposal. 

James Willaims
 

Hey There, James here. I am the co-founder and editor of this site. I have over 10 years experience in business and 5 in the credit repair world