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Kansas City Area Bankruptcy Firm
No Cash Upfront Options Available 913.225.8330 816.656.2652
Restore Your Credit, Reclaim Your Life Contact Moore & Associates, LLC
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Rebuild Credit No Deposit Required

Shortly after the filing of your bankruptcy is an optimal time to start rebuilding your credit. In order to do this, you must create a POST FILING TRADE LINE, a source of credit activity after the filing of your case. Any post-filing credit activity must be managed well and paid promptly. These will be the only accounts that affect your FICO credit score after your bankruptcy is filed.

Step 1: Save & create your first POST FILING TRADE LINE.

Many of our clients have had success with a service called www.selflender.com. This service allows you to set up a schedule of 12 monthly $50 payments into a savings CD (Certificate of Deposit). The payments are reported to all three credit bureaus and will establish your post-filing credit activity. BE SURE TO SET THESE PAYMENTS UP ON AUTO DEBIT out of your bank account so they are made on time. At the end of the year your savings CD will be paid off.

Step 2: Cash in your CD of approximated $550 and use it to set up a SECURED CREDIT CARD. There are many lenders that offer this service.

A secured credit card uses money you place in a savings account which serves as collateral for your credit card. Your credit line is based on your income, ability to pay, and the amount of your cash collateral deposit. For example, if you put $500 into the savings account, your available credit line will usually be $500. The best way to increase your credit score is to charge 20-40% of your credit limit (in this example $100-$200) every month and PAY IT OFF IN FULL AT THE END OF EACH MONTH. Do not carry a balance and do not charge more than 20-40% of the limit each month. A couple of responsible ways to use it are to charge your gas each month, pay your car insurance monthly or to charge one of your monthly utilities, but be sure to pay off the card balance off in full every month on time.

Step 3: Repeat Step 1 with www.selflender.com so you can maintain two post filing credit lines while establishing your EMERGENCY SAVINGS FUND.

At this point you will be making two monthly payments that will serve to increase your credit score; 1) the monthly payment on your secured credit card and 2) the $50 monthly payment to establish a new $550 savings CD. At the end of your second year you should have $1,000 in savings, $500 in the savings CD and $500 with the secured CC issuing bank. After you have established these accounts, if you ever have unexpected expenses like car troubles or an unexpected medical bill, you can rely on your savings rather than turning to credit cards or other forms of debt.

On average, we have seen our clients that have successfully followed these steps restore their credit in 2 to 3 years. Usually, they find that their score will land between 650 and 750 within that time frame. Good credit does not happen overnight. This process takes time and discipline. However, if you follow these steps you will see your score improve dramatically.

Additionally, please be sure not to do any of the following:

  1. DO NOT apply for multiple lines of credit during this time
  2. DON’T habitually check your credit score unless using a credit monitoring service like Credit Karma
  3. Above all, DO NOT take out other loans and fall behind on the payments.

These actions will damage your credit as you are attempting to rebuild it.

Rave Reviews from
Happy clients

  • I'm so, so grateful!

    “Dear Ms. Skinner, I can't thank you enough for all that you, Mr. Moore, Amanda, and all of the staff have done on my behalf. I will most definitely refer you to others. I wish Moore and Associates all the very best in the future. Well done! I'm so, so grateful! :)”

    Ms. R.

  • An extra thank you to Hill

    “An extra thank you to Hill for his time and attention and kindness yesterday. Feeling great moving forward with this organization.”

    Mrs. K

  • You treated me with professionalism, kindness and respect.

    “I am so grateful for your compassion and understanding. I was an emotional wreck when I walked into your office. I had $20.00 in my pocket and an empty gas tank. You treated me with professionalism, kindness and respect. Thank you!”

    Ms. P

  • Nancy was awesome and I felt a sense of relief after I left your office this afternoon.

    “Nancy was awesome and I felt a sense of relief after I left your office this afternoon. I can breathe! Thank you for notifying my car creditor so they don't come and repossess my car!”

    Ms. B.

  • I am pleased with the level of service I received.

    “I must say, I was a little apprehensive and afraid about filing bankruptcy. However, my attorney and his staff were very understanding and willing to assist me with answers to all of the questions I had. The staff showed excellent hospitality when I arrived at their office. I am pleased with the level of service I received, with the step by step guidance and what was to be expected during the whole process. I would definitely recommend Moore and Associates to anyone that I thought may need their services.”

    Ms. R