Roadmap for Rebuilding Your Credit
- Open a checking or savings account.
- Apply for store and gas credit cards instead of paying cash.
- Apply for a secured card where you deposit cash and charge against it.
- Pay your utility bills and rent on time.
- Find a friend or relative to cosign for you on a loan and pay it on time.
- Look for car dealers and mortgage brokers that have a reputation of being "bankruptcy friendly" and buy a used car.
- Stay away from payday loans.
- Live within your means. Do not purchase anything that YOU DO NOT NEED.
- Ask your employer to take 10% of your pay check and deposit it into your savings account.
- Check your credit reports now and every six months and make sure that all information is accurate. Correct mistakes. There are 3 credit bureaus you must deal with: Equifax (800.685.1111), Experian (888.397.3742) and TransUnion (800.888.4213).
- Pay any debts that survive Bankruptcy on time, without fail.
- Think twice before closing credit card accounts. Lenders are looking for consumers with long credit histories that have been managed well.
- Minimize credit-card applications.
- Keep balances low.
Questions? Call me on my cell now at 502-592-9771 so we can discuss your choices. I will pick up personally. 502-592-9771.
