[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/rkillen.ca\/five-ways-to-rebuild-your-credit\/#BlogPosting","mainEntityOfPage":"https:\/\/rkillen.ca\/five-ways-to-rebuild-your-credit\/","headline":"Five Ways to Rebuild Your Credit","name":"Five Ways to Rebuild Your Credit","description":"You\u2019ve gone through a bankruptcy and you want to get your life back to normal as fast as possible. While it won\u2019t happen automatically and you will have to be proactive about it,\u00a0you can actually take steps to start repairing your credit rating right away \u2013 as soon as you\u2019re discharged. Here are five ways […]","datePublished":"2014-06-16","dateModified":"2023-04-13","author":{"@type":"Person","@id":"https:\/\/rkillen.ca\/author\/admin\/#Person","name":"admin","url":"https:\/\/rkillen.ca\/author\/admin\/","identifier":2,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/9802e0bea345b33afa85a53646482da09b2d7944429d88b59778b5d3e1c3dd14?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/9802e0bea345b33afa85a53646482da09b2d7944429d88b59778b5d3e1c3dd14?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Richard Killen and Associates","logo":{"@type":"ImageObject","@id":"https:\/\/rkillen.ca\/wp-content\/uploads\/2016\/08\/landscape-logo-12345-for-web.png","url":"https:\/\/rkillen.ca\/wp-content\/uploads\/2016\/08\/landscape-logo-12345-for-web.png","width":600,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/rkillen.ca\/wp-content\/uploads\/2015\/03\/Five-Ways-to-Rebuild-Your-Credit.png","url":"https:\/\/rkillen.ca\/wp-content\/uploads\/2015\/03\/Five-Ways-to-Rebuild-Your-Credit.png","height":640,"width":558},"url":"https:\/\/rkillen.ca\/five-ways-to-rebuild-your-credit\/","about":["Credit","Financial Advice"],"wordCount":411,"keywords":["Credit rating","credit report","rebuild credit","secured credit card"],"articleBody":"You\u2019ve gone through a bankruptcy and you want to get your life back to normal as fast as possible. While it won\u2019t happen automatically and you will have to be proactive about it,\u00a0you can actually take steps to start repairing your credit rating right away \u2013 as soon as you\u2019re discharged. Here are five ways to do it:Speak to Your Bank Manager:\u00a0They are a good source of information to get you started on the road to credit repair. In most cases they are also quite supportive.Start Saving:\u00a0Creditors like to lend to people who don\u2019t really need the money. So use your savings account or open one if you don\u2019t have it. Every pay period, put in a small amount in the account, perhaps arranging for an automatic withdrawal.\u00a0\u00a0Or if you were used to paying the trustee a certain amount each month during the bankruptcy process, just continue to put the same money in your savings account. By the end of the year you would have a nice balance in the account, sure to impress creditors. (This is called paying yourself.)Get a Secured Credit Card:\u00a0This type of credit card is secured by a deposit account that you own. So if you can scrape together, say, $500, you can use that as a deposit with the credit card company and get a\u00a0$500 limit on a new credit card. You would still have to make regular\u00a0payments on it every month like a regular credit card. If you keep this card in good standing it will all count towards rebuilding your credit rating.Pay Your Bills on Time:\u00a0Pay all your bills, including utilities and credit cards, promptly. Creditors like to get paid on time. Some people are under the misapprehension that if they carry a balance on their credit card from month to month then that will endear them to the credit card company and boost their rating. Not so. It just costs you money.Get a Copy of Your Credit Report:\u00a0There are two main\u00a0Canadian credit bureaus,\u00a0Equifax Canada\u00a0and\u00a0TransUnion Canada. This is where all your credit information is stored. You are entitled to\u00a0get a copy of your credit report. Get it. You can see if there are any mistakes and correct them. You also have the option of putting in a short note that will be given out to anyone who collects a credit report on you."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Five Ways to Rebuild Your Credit","item":"https:\/\/rkillen.ca\/five-ways-to-rebuild-your-credit\/#breadcrumbitem"}]}]