Mara & Mara

Our Attorneys Provide Tips for Rebuilding Your Credit After Bankruptcy

Follow these tips from an Ormond Beach attorney to regain a solid credit standing

One of the most common myths about filing for bankruptcy is that it permanently destroys your credit rating. This is not true — there are a variety of steps that you can take after filing for bankruptcy that put you on a path toward rebuilding your credit score. The attorneys at Mara & Mara, Attorneys at Law recently compiled a list of tips for people to consider after filing for bankruptcy:

  • Reflect on where you went wrong. What was it that caused you to file for bankruptcy in the first place? Take some time to reflect and gain some insight from an attorney. It’s important to consider your mistakes so that you do not make them again.
  • Pay your bills on time. Payment history makes up a whopping 35 percent of your total credit score. This means that paying bills on time has a significant impact on your rating. Try to remind yourself to pay bills before the due date. Don’t put your bills off when you receive them, either — pay them as soon as you have the money available so that you don’t forget about them.
  • Apply for a credit card. Although you might think that applying for credit so soon after bankruptcy is a bad idea, it can actually help you in the long term. Just as you can damage your credit rating by failing to pay off your credit card bills, you can improve your credit rating by regularly paying off your credit bills in full.
  • Take out a loan. The logic for taking out a loan is the same as applying for a credit card. Proving that you are capable of paying off your debt bolsters your credit rating. Talk to a lawyer about which types of loans are right for you.
  • Avoid credit repair services. There are many credit repair services that attempt to scam vulnerable people with the promise of instantly restoring your credit. A professional lawyer is a much more trustworthy source of credit repair advice. Be mindful of whom you trust in these matters.
  • Stay patient. Rebuilding your credit can take a significant amount of time, but it is possible. Stay patient and disciplined, and eventually you’ll solidify your credit rating.

Call a lawyer for further assistance in Ormond Beach & Daytona Beach

You can repair your credit. Simply follow these steps and work with a bankruptcy attorney from Mara & Mara, Attorneys at Law. Call us today at 386.310.2685 or contact us online to set up a consultation to discuss your financial situation. We help individuals filing for bankruptcy in Daytona Beach, Ormond Beach, Seville, Barberville, Palm Coast and the surrounding areas.