Tips to Help You Rebuild Your Credit After Bankruptcy

by | Feb 12, 2015 | Bankruptcy

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When someone is going through massive amounts of debt, it can be difficult. Often, people feel there is no way out of their debt. Fortunately, people have the right to file for bankruptcy when they are dealing with more debt than they can afford. Bankruptcy can allow a person to overcome their debts and get on with their lives so they can secure a brighter financial future. Are you wondering How to Rebuild Credit After Bankruptcy? Through this information, you can get started on achieving a higher credit score.

  • One of the first steps you need to take after coming out of your bankruptcy is consulting with a credit counsellor. A credit counsellor can help you to organize your bills and assist you in making better financial decisions. Ongoing counselling can keep you from making mistakes that can get you in over your head with debt.
  • If you do not have a credit card in your name, now is the time to apply for one. Many credit card companies are willing to work with individuals who have filed for bankruptcy. If you have a credit card in your name and pay on it regularly, this can help to raise your credit score. When used wisely, this can make a big difference in your financial record.
  • Paying your bills on time each month is crucial for keeping a good credit score or raising a poor one. When your bills are late, the creditors begin reporting on your credit report. This can quickly bring your credit score down.
  • If there are any old debts on your credit report, you need to make sure you contact the creditors and work to pay down the debt. Each time you pay down on old debt, this can help to improve your score.

Are you asking How to Rebuild Credit After Bankruptcy? Make sure you take these steps and do all you can to not only improve your credit score, but also protect it. Checking your score on a regular basis can help to keep you aware of any issues so they can be corrected. Carefully monitoring your credit score can make a big difference in your financial situation. To get the help you need, contact the office of Sean C. Paul Attorney at Law.

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