When an individual files for bankruptcy in New Jersey, they may have concerns about their credit score. These concerns are completely valid, as a credit score does take quite a hit during a bankruptcy. However, the individual can start rebuilding their credit just as soon as the bankruptcy ends. Bankruptcy does not mean that an individual cannot have good credit again. In fact, an individual may even be able to get approved for a mortgage just three years after the bankruptcy proceedings are finished.

After the bankruptcy is complete, an individual should apply for a credit card. It is important to do this soon after bankruptcy because the sooner new credit is built, the sooner the individual’s credit score will rise again. One of the ways that an individual can quickly and easily build up their credit is by obtaining a credit card for the sole purpose of something they know they can pay each month in full. It may be a good idea to only put a small monthly charge on this card, such as gas for a car or a monthly subscription. As long as the bill is paid in full and on time, credit can be rebuilt and the road can be paved for financial success in the future.

If you are thinking about filing for bankruptcy in New Jersey, contact our firm today.

For strong legal representation from an experienced personal injury, bankruptcy, workers’ compensation, criminal defense, or family law attorney, contact Underwood & Micklin and we would be happy to schedule a consultation to discuss your matter.