5 Ways To Rebuild Your Credit Score After Being Bankrupt
Get A Secured Credit Card
Once your bankruptcy has already been discharged, slowly build back your credit, by getting a secured or prepaid credit card. A prepaid credit card can act like a debit card, where you put in cash, and you draw against it, and you reload the card again. Always make it a habit to not use more than 40 percent of your credit limit on any revolving loan.
Pay All Your Bills On Time
To build up your credit score after bankruptcy, remember to pay all of your bills on time. From credit card, telephone and utility bills, to apartment rentals and even parking ticket fines, always ensure that you're not weighed down by too much debt. Some creditors have been known to look at their customer's bill payment records, so that they can establish your willingness to pay.
Get Installment Loans
Next, get an installment loan, such as a car or appliance loan. This can be a nice start towards rebuilding your credit score. Once you've gotten approval, pay off the loan in the quickest time possible.
Evaluate Your Credit Report For Errors
Your credit report must still need to be fully evaluated, even if you've already been declared to be bankrupt. Check out any errors or inconsistencies on your credit report, because any negative item is only allowed to be reported for 7 years. Should you spot any inconsistency or discrepancy in your report, this should be removed or erased immediately.
Keep Off Any Overdraft Fees
To steer clear of overdraft fees, always make it a habit to balance your checkbook against your monthly statements, and always keep records of the items you purchase, or the services you’ve availed of.
It would also help if you say no to having a “co-signer” to your credit. By having co-signers show-up on your credit report, it may actually weaken your case with future creditors. Once a creditor sees that you’ve had a co-signer, they’ll see you as a high-risk client, and will also ask that you get a co-signer for their loan too. These times, a person’s financial future greatly revolves around those three little numbers that make up a credit report. A good score indicates that you are financially stable, and is in good standing for applying a loan, or any form of financing. A low or poor credit score will only serve to add more headaches to your financial standing.
By your GoodBuddy Richard La Compte
You may contact me through my Help Desk
Thanks for another wonderful article. Where else could anyone get that type of info in such a perfect way of writing? I've a presentation next week, and I am on the look for such info.acd14 - By cheap nfl jerseys from china nike - Homepage
8th January 2018 - 3:37pm
In the WordPress support forum, there are from time to time questions abut trackbacks. I haven't used it myself, but I found a good tutorial on the OptiNiche cheap nfl jerseys china blog.c52ab - By wholesale cheap nfl jerseys - Homepage
8th January 2018 - 9:07pm
Thank you for the auspicious writeup. It in fact was a enjoyment account it. Look advanced to far delivered agreeable from you! However, how can we keep up a correspondence?d2edc - By nfl replica jerseys cheap - Homepage
9th January 2018 - 2:08am
We're a group of volunteers and opening a new scheme in our community. Your website offered us with valuable information to work on cheap nfl jerseys china. You've done a formidable job and our whole community will be thankful to you.78cd9 - By nfl official jerseys cheap - Homepage
9th January 2018 - 7:39am