Will a Seasoned Tradeline help someone with a Chapter 13 Bankruptcy?
Jan Meriss Alfonso Assistant at Ascent Law LLC Adding a seasoned tradeline to your credit report after a Chapter 13 Bankruptcy can have a positive impact on your credit score. It will increase the average age of your accounts, and the positive accounts will outweigh the negative ones. But there are risks. Using a third-party's credit history to improve your credit score While a Chapter 13 bankruptcy can help you recover financially, it can also affect your credit score for up to seven years. It's also important to note that you can still fix the negative information on your report before the seven-year mark. In order to improve your credit score after bankruptcy, you must take steps to improve your money management skills. You should avoid taking on more debt than you can afford and make all payments on time. In addition, don't use credit cards with higher interest rates. Using a third party's history can help you target your improvements. It can also help you identif...