Many people across Mississippi struggle to support themselves and their families financially, and if you count yourself among them, you may be sorting through your options and trying to figure out if a bankruptcy filing might give you the fresh start you desire. While, in many cases, filing for bankruptcy can be a great way to get your affairs in order so you can start to dig your way out of debt, your credit will most definitely take a hit after doing so.

There are, however, certain efforts you can make to help rebuild your credit after bankruptcy, which, over time, can help you raise your credit score and otherwise get back on your feet financially. Just what types of actions can you take after a bankruptcy filing to help raise your credit score?

Consider a secured loan

A secured loan is something you may be able to obtain through a local bank or credit union, and it can help boost your credit score if you stay current on all necessary payments associated with it. There are two primary kinds of secured loans. The first involves putting down a deposit and then borrowing against that money you have on deposit, while the second type involves placing money in a savings account you can access once you have made all required payments.

Consider a secured credit card

A secured credit card, meanwhile, can help you build your credit in a manner similar to a traditional credit card, but you need to fund the credit card yourself by putting down a deposit. There are typically high fees and interest rates associated with secured credit cards, though, so view this option as a temporary fix, rather than a long-term solution.

While these are two effective methods of rebuilding your credit on your own, you may also be able to do so through other methods that involve enlisting the help of others. For example, you may be able to have a close friend or family member co-sign on a loan or credit card to help you rebuild credit after bankruptcy.

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