CHECK YOUR CREDIT REPORTS
Using any free credit check services such as Credit Karma, be sure to check all negotiated accounts to ensure that they are reported properly in your credit reports.
CREATE A BUDGET
This is to ensure that you can pay all bills and debts.
CREATE AN EMERGENCY FUND
This keeps you from getting back into debt in case of an emergency.
CHECK YOUR CREDIT SCORE MONTHLY
Monitor your credit closely. Your free credit report allows you to keep track of your progress and the areas of your credit that need improvement. It also keeps you informed on your credit information. Be sure to report any inaccuracies.
APPLY FOR A SECURED CREDIT CARD
Choose a secured credit card that reports to all three major credit bureaus so that your payments are reported on each of them. This helps your credit building.
Make small purchases. Balance should never exceed 30% of spending limit.
Typically, keep your balance low using only about 10 % to 15% of your credit each month.
Pay bill on time each month.
Try zeroing out the balance every time.
APPLY FOR A SECURED LOAN
A small personal loan is a good way. You can apply for a small loan that you will be able to pay back easily.
Pay monthly bills on time. Paying off loan faster will decrease the amount of interest paid (if no early repayment penalties).
If you follow all the steps enumerated above, your credit score will improve and soon, you will be able to qualify for credit cards or loans at better interest rates.
TALK TO YOUR BANKRUPTCY ATTORNEY
Your bankruptcy attorney will provide knowledgeable advise as you work to re-establish your financial future.
NEED THE ADVICE OF A BANKRUPTCY ATTORNEY IN NEW JERSEY? CALL: 973-993-1900
*The information provided in the article is not legal advice. For legal advice on filing for bankruptcy, please call a bankruptcy attorney.