Bankruptcy Credit Repair Advice

Nearly everyone, at some point in life, has had an occasional late payment on a credit card or a hospital bill that has ended up with a collection agency. Those kinds of credit issues affect you; late payments on credit cards often result in higher interest rates and late fees; collection agencies are not nearly as understanding as hospital financial service staff about payment arrangements. Nothing, however, affects your credit as negatively as bankruptcy, which is why the minute your bankruptcy is discharged, your first thought should turn to bankruptcy credit repair.

Bankruptcy credit repair is not an overnight solution to repairing your credit report. In fact, bankruptcy will remain on your credit report for up to ten years, so it will continue to affect you as you move through life. However, many things you can do to make the bankruptcy credit repair process go more smoothly. credit repair advice

Once of the first things you should do after filing bankruptcy is to obtain a "secured" credit card. They work like a regular credit card, in that it reports to your credit report, however, it is secured by a deposit. You are basically charging against your own prepaid money in order to rebuild your rating.

Department stores like Sears and Wal-Mart have less stringent credit requirements, so a good second step in the bankruptcy repair process is to apply for a credit card from a department store or retail outlet. The idea is not to max out another credit card and get yourself in more credit debt trouble, but to use the card regularly, wait for the charge to be billed to you, then pay the debt. It is critical that you pay more than the minimum amount and make the payment before the due date. Paying more than the minimum and building a track record of on-time payments will provide the best bankruptcy credit repair possible. credit repair advice

Do not be fooled by companies who offer to repair your credit. Bankruptcy credit repair takes time; if an offer sounds too good to be true it most likely is too good to be true. Don't be fooled into committing to a long-term payment plan for something you can do for yourself. If you do need credit repair help, seek the counsel of a reputable company such as Lexington Law Firm. They help people to repair their credit after bankruptcy all the time. They even raised my credit scores 180 points in two months!
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