Credit Repair Attorney

If you have filed bankruptcy or completed a debt consolidation program, you might be wondering, “Now what?”

With your new clean credit slate, you need to repair your credit history. The first step in credit repair is getting a copy of your credit report from all three credit reporting agencies. You should have done this before your bankruptcy or your debt consolidation program and you need to do it again. After you verify your credit report’s accuracy, the next step in credit repair is building good credit.

Calculate your monthly budget. Take your income and subtract at least five percent for savings. Deduct your monthly bills such as rent, utilities and car payment and then deduct your average grocery bill. What remains is disposable income. You can use this for other things you need. The five percent that you have set aside will accumulate and you can use that for emergencies or large items if you are lucky enough to avoid unexpected bills.

Next on the road to credit repair is figuring out a way to rebuild your credit. You know your budget and you know how much disposable income you have. If you get a secured credit card and use it wisely then you can build good credit to replace your old bad credit. You may want to consider getting a store credit card. The important part is to know how much you can trust yourself. If you are offered a $1,000 credit line and you are afraid you will overspend your budget, you can contact the credit card company and ask them to lower your credit limit.

Pay your bills on time. Yes, we all have unexpected problems but keep your creditors informed of your situation.  If you are working with a credit repair company, listen to the agent’s advice. Credit repair is not easy but with diligence and discipline, you should be able to recover.