Rebuilding Your Credit
after Bankruptcy

When a person declares bankruptcy the Office of the Superintendent of Bankruptcy notifies the credit bureau. This information stays on your credit bureau report for 6 - 7 years. You can start to re-establish your credit by doing the following:
    Talk to your banker and say you want to re-establish your credit rating;

    Open a savings account;

    Be a regular and persistent saver.  Use the common techniques I am sure you have heard of: 
    1) Pay yourself first; 
    2) Take your next raise and save it; 
    3) Save 5 % of your pay; 
    4) Have your savings come right off your pay and into a separate savings account;

    Take out a small loan using the savings account as collateral, and then pay it back;

    Apply for a credit card with a low limit and secure the limit by using your savings account as collateral;

    Pay your credit card balances on time.

If you have any questions, please do not hesitate to contact any of our professionals at

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