A solid credit score is a powerful tool. After bankruptcy, it’s common for people to want to swear off credit, but that’s almost always a mistake. Your credit score not only determines access to financing for large-ticket items like a home or new automobile, but it impacts the interest rates you pay on those purchases. In fact, your credit score can determine your eligibility for certain job and apartment rentals, and even impact the rates you pay for certain products like automobile insurance.
While it’s smart not to rely on credit or carry balances on your credit cards, going cold turkey on credit can hurt. After bankruptcy, you’ll have one negative—the bankruptcy filing—on your credit report. As time passes, the bankruptcy will become less and less important, and your more current history will carry more weight. If, that is, you have a more current history. If you haven’t used credit since your bankruptcy, creditors have no data to tell them whether or not you’re willing and able to make your payments on time.
Rebuilding credit can be a challenge, because major creditors and the credit reporting agencies don’t make it easy for you to understand how you’re being judged. You may not even know which of the many credit scores available for purchase your creditors will rely on, or how your current credit accounts will be factored into your credit score or viewed by prospective creditors.
Making good decisions that will positively impact your credit score requires patience and discipline—and reliable information. With the right support, your credit score can improve significantly in as little as 12-24 months.
We know that rebuilding your credit can seem nearly as overwhelming as debt, and we’re determined to give you the tools you need to move forward with confidence. That’s why we’ve partnered with experts in the credit rehabilitation business to offer you the information and guidance you need. This valuable information, paired with our credit report auditing, will help set you on the path toward a future free from financial stress.
Upright Law has been very patient and answered all the questions I asked. Having never needed a lawyer or filed bankruptcy I was rather anxious about stepping into this procedure.
Everyone that I have dealt with was very kind even when I thought I was probably bothering them with every little thing that I thought of.
This is all very stressful for me, especially because I was very ill and worrying every month about medical tests. I have never felt so less in control than I do now so I am very grateful for all the help that has been given me.Jane M. Maine