Welcome to The Law Offices of Paul Y. Lee

You are not alone in the bankruptcy process. Let us serve as your guide, helping you secure maximum debt relief through whichever type of bankruptcy is best suited to your specific case. Contact us today to get started.

Tips for Repairing Your Credit After a California Bankruptcy

If you are overwhelmed with debt, filing for bankruptcy might be one of the smartest steps you can take toward improving your credit. Once you have gone through that process, there are additional steps you can take to get your credit back to good. Follow these steps after your bankruptcy has been discharged, but if you have not yet filed for bankruptcy then your next call should be to The Law Offices of Paul Y. Lee at 888-748-0025 to learn more.

Have Reasonable Expectations

Some people assume that it will take ten years to get credit after their bankruptcy and they are often pleasantly surprised to learn that this is not the case. However, a person who assumes that they can get great credit in a matter of months is going to be disappointed. It is essential that you know that it can take time to re-establish credit after a Chapter 7 or Chapter 13 bankruptcy.

Check Your Credit Report for Inaccuracies

The bankruptcy is going to appear on your credit report, but the tradeoff is that the balances on your previously delinquent accounts should be at zero. Unfortunately, creditors do not always report zero balances. You should check your report and make sure that all discharged debts report zero balances. We can help you with this if companies continue to report balances.

Pay Any Accounts You Keep

Depending on the type of bankruptcy you go through, you might still have secured debts such as cars and a home, and you might still have loans on them. The most important thing you can do for your credit is to make sure you keep paying them on time. As you get other debt, make sure that you are always paying it on time. This is the strongest and fastest way to build your credit.

How to Get New Credit Cards After a Bankruptcy

You are going to have a hard time getting a traditional credit card right after a bankruptcy. Those that are offered are likely to have very high interest rates, annual fees, and low credit. You can try to get store credit cards, because they generally have lower qualification standards than other forms of credit, or you can consider a secured card.

We Can Help You Make the Right Step Forward

Bankruptcy is not right for every situation and there is no cookie cutter way to proceed. However, one thing is true of all bankruptcy situations: it is best to have a professional on your side. At The Law Offices of Paul Y. Lee we are happy to start with a free consultation so that you know what your options are. Our goal is to help you find the right way forward and to make the most of your situation.