How Do I Rebuild My Credit After Bankruptcy and Improve My Credit Score?
Rebuild Your Credit After a Bankruptcy • Contact a Florida Bankruptcy Attorney
Perhaps one of the biggest fears people have about filing for Bankruptcy is the perceived negative effect the filing will have on their ability to reestablish a positive credit rating. Our attorneys spend a lot of time with clients discussing the best way to move forward financially once a client is discharged from Bankruptcy. The procedure to reestablish one’s credit and to improve credit score is varied and depends largely on the individual’s unique circumstances. In most instances, if a client who has received a discharge from Bankruptcy uses credit wisely after the discharge and follows some simple advice, that client can expect to see an improved credit score within 12 to 18 months after being discharged from Bankruptcy. K. Hunter Goff can show you how to repair your credit rating after filing for Bankruptcy protection and once again qualify to buy a car or home.
Experienced post-Bankruptcy attorney serving Orlando, Florida
With offices in Orlando, Lake County and Tampa, the Law Offices of K. Hunter Goff, P.A., provides comprehensive legal assistance to people filing for Bankruptcy. We also offer advice and guidance for getting back on sound financial footing. Contact us to learn more about rebuilding credit after Bankruptcy.
It is not uncommon for my clients to receive several credit card offers in the mail even after they have only been recently discharged from Bankruptcy. This fact serves as an opportunity for someone who just came out of Bankruptcy to reestablish his or her credit. Of course, this must be done wisely to avoid the credit card trap that may have led to the reason for filing for Bankruptcy in the first place. The key is to be proactive about rebuilding your credit. With our firm’s help you can learn how to go about rebuilding your credit in a prudent, cautious, wise, and most importantly effective manner. Here a few tips that generally apply to everyone who has recently been discharged from Bankruptcy or who are currently involved in a Chapter 13 Bankruptcy:
- Diligently pay down debt – make steady payments under a Chapter 13 repayment plan
- Follow-up with credit bureaus – make sure discharged debts under Chapter 7 are noted on reports, and any inaccurate information is removed and/or corrected promptly
- Limited use of credit – limit the number of cards you apply for and how much you spend on them. Pay down balances each month to avoid being penalized by the typical higher interest rates a person who has just been discharged from Bankruptcy will receive.
Credit counseling, mandatory during the Bankruptcy process, offers a good start to rebuilding credit after Bankruptcy. While your Bankruptcy can remain a matter of public record for up to 10 years it will not prevent you from taking the necessary steps to rebuild credit much sooner than that. The goal is to encourage lenders to focus on how you have responsibly handled your finances since a Bankruptcy, and the good faith effort made to secure your future financial position.
Regain control of your financial future
We understand that overwhelming debt can create anxiety and fear. We offer experienced, straightforward legal advice for resolving your financial problems and rebuilding credit after Bankruptcy. Contact the Law Offices of K. Hunter Goff, P.A. to get started today. You can e-mail us, call us toll-free at 1-866-442-3328 or at 407-898-8225.