If you are considering filing for bankruptcy or have recently had your debts discharged in Houston bankruptcy you are likely going to need a few tips for rebuilding your credit. After high debt balances and delinquent account standings have damaged your credit, bankruptcy has provided you a clean slate to start fresh. Here is what you need to know about getting back in the credit game:
Check your report — many creditors drag their feet on reporting your account status to the credit reporting bureaus. Check your report to ensure that your newly resolved debts are reflected accurately. If you find any mistakes or wrong information, file a dispute to have it updated right away. It is important your report be as clean as possible before you go looking for new credit.
Be patient — rebuilding credit takes time and effort. You shouldn’t be worried about getting new credit cards right now, but focused on establishing yourself as a responsible borrower. Take a few months to make a positive impact on your credit score before looking for new lines of credit.
Make a plan — when you are ready for new lines of credit shop around for the best deal. It is also important you evaluate your budget and where you could realistically fit in a line of credit. Take the time to plan purchases and avoid using your lines of credit for convenience. Instead, use your line of credit as a repair tool that you borrow and repay responsibly over a few months.
These tricks can have you on your way to a higher than ever credit score in a few months time.