After a bankruptcy filing, the question of rebuilding credit scores is often raised. Just as your bankruptcy filing and proceedings take time, so does rebuilding your credit. There are a lot of things to keep track of during the process, so legal aid Milwaukee from Burr Law Office can help. The number one rule for rebuilding your credit is to know your score and the things that will change it.
Acquire and review credit reports
As mentioned above, before you can do anything to fix your credit score you’ll need to know where you can go. Attorney Michael Burr will not only help with your bankruptcy filing, but will also help you review your credit report as well. By breaking down your score, you will have a better idea of what you can do to fix it.
Open credit/loans with caution
Many people do not keep a major credit card open during bankruptcy. If that’s the case for you, it’s a good idea to open one once your bankruptcy has been discharged and pay it off monthly in full. Also, a few years down the road, it may be worth considering getting a line of credit – maybe a car loan or something similar – that you can pay off successfully. Be sure to shop around for interest rates and know that the higher your credit score the better interest rate you’ll get.
Be timely with bill pay
Most people don’t understand the influence timely bill pay has on your credit score. To make it simple, paying your bills on time is a must. There are a number of services that allow for automatic bill pay nowadays. If you’d rather not do automatic bill pay, set reminders in your electronic calendar.
If you’re having troubles rebuilding credit after your bankruptcy, call Burr Law Offices to speak with attorney Michael Burr and get the legal aid Milwaukee you need. He’ll help you get your credit back on track.