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Tips for repairing credit after a bankruptcy Atlanta, GA

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Tips for repairing credit after a bankruptcy

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Bankruptcy has become a reality for a large number of Georgia residents, largely due to high unemployment rates, falling home values, and consumers who are spending more than they can afford in their new financial reality. Although bankruptcy can damage a filer’s credit score, financial experts say that even those who experience extreme fiscal challenges can rebuild their score over time.

In the months following a bankruptcy, consumers should carefully monitor their credit reports and credit scores (free credit reports are available through the three major credit reporting agencies). Filing for bankruptcy can cause a credit score reduction of up to 200 points, some of which can be quickly and easily made up by finding and correcting credit report errors. The reporting agencies have a duty to respond to any communication consumers send them and correct any errors they make, although it may take some time for that correction to be reflected on a credit report.

According to financial experts, 35 percent of your credit score comes from your payment history, which includes bankruptcies. Another 30 percent reflects the comparison of your available and used credit, and 15 percent is determined by the length of your credit history. Of the final 20 percent, half comes from your credit inquiries and half comes from your mix of credit sources, such as mortgages or credit cards.

Experts say that bankruptcy filers should immediately correct any negative habits that may have contributed to the initial bankruptcy filing. Making timely payments on mortgages, utilities and cars can build your credit quickly. In addition, experts advise that filers obtain new secured credit cards, since having credit and paying it off on time is another positive indicator.

Source: Redlands Daily Facts, “Damage control: Consumers can rebuild credit after bankruptcy”, Kevin Smith and Rebecca U. Cho, 3 April 2011

Posted on behalf of Jamie L. Gingold, PC

195 14th Street NE #1604
Atlanta, GA 30309

Phone: (678) 915-2634


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    Jamie L. Gingold, PC
    5.0 / 5.0

    Based on 28 reviews

    Jack L.

    They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional and they know what they are doing. Would definitely recommend!

    Karen B.

    Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepidation that I experienced once I realized that my situation seemed hopeless. It was by chance and happily good luck that I decided to put my future and sanity into your hands. I was mortified at having to deal with my debts by claiming bankruptcy. I remember in our first meeting how you assured me that I was not alone and should not feel ashamed. And, anyone in this position obviously does not have money to spare and you were clear about all the costs and allowing me to pay according to my own ability to do so. You advised me in all aspects of the law, but also, you were at each meeting incredibly supportive and complementary of my personal and professional plans. Anyone else in this situation should feel blessed to have access to your expertise and support.

    Lyla B.

    I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pleasure of working with Jamie. She is very responsive, professional, and knowledgeable. She took the time and listened to my every concern and handled each and every one of them to my satisfaction. My experience with filing bankruptcy under Gingold & Gingold's representation exceeded my expectations in a major way. They gave me such a peace of mind. I am very pleased with my decision of going with Gingold & Gingold to represent me when I filed Chapter 13 bankruptcy.

    Julie T.

    Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my debt situation. there were no surprises and the case went as I was advised. The staff was also very helpful whenever I had a question. I will definitely recommend them in the future to my friends.

    Julie T.

    I contacted getting old and getting old regarding some old tax debt and credit card debt that I needed to address and had been putting off. miss Irving in the office was very very nice and put me at ease. I met with Jaime Gingold. She was very nice and explained the procedure to me and what would be left owing to the Internal Revenue Service and the State of Georgia after my case was done. My case has now been completed and I am on my way to a new start. Thank you Gingold and Gingold for all of your help.

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    Amazing! Outstanding!! They went over and beyond..I would recommend them to anyone needing a lawyer!!

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