Bankruptcy: Tips for Rebuilding your Credit | Tom Orr Law

Bankruptcy: Tips for Rebuilding your Credit

Bankruptcy: Tips for Rebuilding your Credit

Many of my clients are curious about life after filing for bankruptcy. Common questions include if they will ever be able to buy a house, car, or get credit cards. There is life after bankruptcy, but it takes time and planning to rebuild your credit.

When your debts have been discharged you have a clean slate, but you also have a red flag on your credit report showing your Chapter 7 or Chapter 13 bankruptcy. I have compiled a list to help get you on the road to the rebuild your credit rating and avoid future debt problems.


Creating a budget and sticking to it will help you avoid future debt issues and prepare for future large purchases. I recommend that you plan your budget immediately upon filing and start adhering to it to gain a better understanding of where your money is going. There are a number of online tools and resources that can help you plan your budget so that you can set financial goals using principles that work. A great free budgeting tool is For a variety of budgeting resources check out

Save Money:

Start by looking at your expenditures and the money that you have coming in. Then look for ways that you can decrease your costs. Perhaps you can save money on your grocery bills or cut down on the amount you spend on dining out and/or entertainment. Every bit that you can save will help you have funds on-hand for unexpected events. Having discipline when it comes to spending is difficult, but it will help you avoid impulse purchases and save money. Just because you have gone bankrupt doesn’t mean your can’t make purchases. You will still have to buy a lot of the same things you did before.,,, and are websites that can help you shop smarter.

Get a Secured Credit Card:

Getting a secured credit card is an important step in rebuilding your credit. Secured credit cards require you to deposit money into an account as security. This will get you into the habit of paying your bill on time. Secured creditors will report your payment history to the credit bureau which will help increase your credit rating. has helpful information about which credit cards are the best fit for you and even offers FREE credit scores.

Your life is not over after filing for bankruptcy. Take control of your financial future with the steps above and you will be on track to rebuilding your credit.


Hundreds of thousands of Americans, including consumers and business owners, file for bankruptcy each year. While many think this situation is the result of overspending, most cases are due to financial hardship such as job loss, costly medical bills, divorce, or a poor economy.


I’ve been practicing bankruptcy law in Burlington, New Jersey for over 33 years. With just one location, I can focus exclusively on helping my clients make their way not only through bankruptcy, but well past it. We will work together to explore all of your options and determine if bankruptcy is the right choice for you. The goal is to get you on the path to a new beginning.


If you’re losing sleep, feeling scared or even embarrassed, let’s talk. There is life after bankruptcy and it starts here. My offices are located in downtown Burlington, near the Riverline train stop. I provide Saturday and evening hours as needed. I offer payment arrangements to fit your budget. Contact my office today at ​​609-386-8700.


Start your path towards a new financial beginning. Contact our offices today!
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