How to improve your credit score after bankruptcy

Last Modified 16th of February 2021

Declaring bankruptcy should always be an absolute last resort, but in some situations it may be necessary and if you have just come through such a time and have a bankruptcy on your credit file you will probably find that your credit score is at an all time low.


After a bankruptcy it can be difficult to near impossible to get credit, but there is hope, you can improve your credit score over time. Here’s what to do:


It’s going to take time, and for 6 months you should not worry about getting credit, just make sure you clear any outstanding debts and do what you can to sort out your finances.


With no credit score and no income you won’t get anyone to lend you any money. So make sure you get a consistent job and an income – this will help when you eventually apply for credit again.

Start small

Eventually you can start thinking about credit again – set your sights low though. At first you will only be using credit for the sake of credit recovery. Look for specialist credit cards for credit repair or consider a store card.

These products have very high interest rates, so you have to be very careful with them, but they are the easiest forms of credit to get accepted for, so if you can get one, use it sparingly and pay it off on time, every time.


Track your credit score

It’s not going to be fun, but sign up to Experian so you can see your credit score. Check back every month and see if your credit score has improved and try to be realistic about what credit you might get. If you apply for credit and get refused, wait for a while and try again once your score is better.

Be patient

Recovering fully from a bankruptcy may take years and it will certainly be a long time before you can get regular forms of credit like you once did. Rest assured though, you can one day have an excellent credit rating again.