Bankruptcy Clients Rebuild Credit After COVID-19
For so many people, filing for bankruptcy can seem like the end of the life they have come to know. How will it affect their future and their credit score? Bankruptcy can actually help you create a good credit score down the road. With the help of skilled and knowledgeable Wilkes-Barre debt relief Attorney C. Stephen Gurdin, you can take your current situation and improve it for a better financial future.
Bankruptcy Clients Rebuild Credit – Your Credit!
The fastest way for Bankruptcy Clients Rebuild Credit in Pennsylvania is to focus on three main factors:
- The length of your credit history. Your credit will go to zero when you file bankruptcy, so it is important to obtain new credit as soon as possible after filing, even if you have to get a secured credit card. This allows you to begin re-establishing credit immediately.
- Make timely payments each month on credit cards and loans. When you file for bankruptcy, unsecured debts such as credit cards balances will be wiped out, so you will be better able to stay current on payments on your new debts. As long as you are not late on your payments, and make wise choices as to how much you spend each month on credit card purchases, you should be well on your way to financial recovery.
- How much of your available credit you use. To improve your credit, you should try to keep your credit balance at 10 percent or less of your limit. This allows you to demonstrate your dependability.
Is Filing For Bankruptcy The Solution?
If you’re like most people, when you borrow money, you have every intention of paying it back. But then something happens; perhaps you lose your job or your hours get cut, your small business slows down, you get sick or you have to stay home to care for your children or an elderly parent. Whatever the reason, you find yourself unable to keep up with your payments.
- When you find yourself struggling with debt, you’re no doubt searching for solutions.
- But the one you avoid, Bankruptcy may be the one you need the most.
Bankruptcy Clients Rebuild Credit – Call bankruptcy lawyer C. Stephen Gurdin Jr. at his Wilkes-Barre office today at, 570.826.0481.