The bankruptcy process is both stressful and relieving at the same time. It’s a difficult journey, but the end goal is financial freedom, which is very rewarding. After your bankruptcy process is complete, the next stage is rebuilding your credit. Without the proper steps to rebuild credit, the hard work and dedication you gave towards removing your debt will be in jeopardy. Here are a few tips for rebuilding your Milwaukee credit.
Be aware of your card limits
When you begin re-establishing credit, it’s absolutely crucial to know the limits on your credit cards. By keeping your balances well below the limit, you’re showing control. Ideally, when you’re just getting back on your feet, you should use your credit cards sparingly – you likely won’t have very high limits, so you’ll want to keep credit purchases at a minimum.
Be attentive and timely with bills
Paying your bills in full and on time is the best way to get back on track. Being late on payments will counteract the rebuilding process and have a negative impact on credit. There are lots of tools you can use to keep reminders set. Many businesses offer auto-pay services where you can set up your payments electronically. If that’s not an option, use your calendar to set reminders.
Don’t run to a credit repair service
Just like debt settlement companies, credit repair services will likely contact you promising they can help repair your credit. These companies often charge astronomical fees and the work they do is something you can do on your own for free. If you decide to go with a credit repair company, be sure you do a thorough background check.
If you need assistance with your Milwaukee credit score or need advice about recovering from debt, contact Burr Law Office at 262.827.0375. With over 20 years of experience, attorney Michael Burr works personally on each case.