If you filed for bankruptcy, the worst is behind you. We all know when applying for any type of credit, be it a credit card, or a loan to purchase an automobile or a house, the agencies will look to the credit score to guide them towards the proper interest rate or whether or not they will give you a line of credit at all. With that in mind, the road to repairing and improving your credit score begins right away.
First and foremost you have to know what your credit score is, and that will determine your goals and the time to accomplish them. Obtain a credit report and make sure that there are no errors or inconsistencies. There are a number of free credit report dot coms out there, find one that works for you.
Second, begin paying your bills on time. Payment history could make up to one third of your credit score. Set yourself reminders, make sure you set it out enough time in advance if you are planning to mail it, and make sure the vendors receive your payments.
Third, begin applying for credit. And when we say that we mean carefully and cautiously. Multiple application for credit cards can make your FICO score fall. Apply and know your limit. With a goal of reestablishing credit, you need to make certain that you do not fall back into the same habits of impulse buying and maxing out the cards. This will be detrimental to you score. Stay under the limit.
Fourth, beware of credit repair services. You might use them but make sure to thoroughly research them before paying them any money. Scammers are always looking to take advantage of unsuspecting customers. Many will simply take a high fee, and will not do much for your credit score.
If have not filed bankruptcy and you are getting harassed by creditors, call (916) 971-8880 to speak with a Rancho Cordova bankruptcy lawyer at our firm today.