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 with $500 Secured CC

Kansas City Bankruptcy Attorneys

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 new line of credit that is managed well and paid promptly. This will be the only account that will affect your score in the time immediately preceding your bankruptcy filing. We advise our clients to obtain a secured credit card shortly after they file their case. 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 good idea is to use it like a gas card or to charge one of your utilities each month, but be sure to pay off the card balance every month on time.

On average, we have seen our clients that have used the secured card in this fashion restore their credit within 18 months to 3 years. Usually, they find that their score will land between 650 and 700 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.

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

  1. DO NOT apply for multiple lines of credit during this time
  2. DO NOT habitually check your credit more than once per year
  3. Above all, DO NOT take out other loans and fall behind

As all of these things will damage your credit as you are attempting to rebuild it.

Rave Reviews from
Happy clients

  • Your entire staff has been very helpful.

    “Your entire staff has been very helpful, courteous and prompt with every question or need that I had. The entire process has been seamless and quiet smooth. It has been a pleasure working with all of you.”

    Mrs. S

  • I still remain so very thankful to you.

    “I still remain so very thankful to you for the help you gave me and our discussions together.”

  • I really appreciate your help.

    “The judge ruled that they give me back the cost of the car plus court fee. It was a long process but God helped me through all the steps by providing people like you to help me out. I really appreciate your help. God bless!”

    Ms. F

  • I really do appreciate having such a great attorney.

    “Thank you for all of your time, help, patience, etc. I really do appreciate having such a great attorney and his AMAZING staff. You all have made this process a lot easier to go thru.”

    Ms. P

  • You brought the sunshine to my raining day.

    “Thank you so much again for taking the time out to work with me again. You brought the sunshine to my raining day.”

    Ms. T