If you are like most Ohio residents who found themselves in over their heads with debt, bankruptcy may have been your only viable relief option. Now that you are debt free, however, you may wonder what you can do to rebuild your credit score and move forward with your life. TransUnion offers a few key bits of wisdom for doing just that.  

The major credit reporting bureau suggests that you immediately start building your savings post-bankruptcy. Having a cash cushion on hand can help you pay for major unexpected expenses upfront without having to put them on credit. It can also prevent a debt at the end of the month which you cannot pay. Saving money also makes it easier for you to pay your bills on time every month, as you do not have to worry about having enough cash on hand for necessities such as food and gas. 

The second thing the bureau suggests doing is applying for a secured credit card. Yes, the point of bankruptcy was to help you get rid of debt, but the truth is you cannot do much in today’s world without credit. You may need a credit card to rent an apartment, rent a vehicle or open a new bank account. Plus, having a credit card, no matter how minimal the limit, is one of the best ways to begin rebuilding your credit score.

Finally, TransUnion suggests paying your bills on time. That means all of your bills, including rent, cell phone, utilities and credit card payments. Once you reestablish credit, on-time payments are the number one way to boost your credit score.  

The information in this post should not be used as legal advice. It is for educational purposes only.