How to Fix Your Credit and Score an Affordable Mortgage
It’s no great secret that filing for bankruptcy devastates your finances and your credit score. But now that’s it done, it’s time to put it behind you, pick up the pieces and begin building a future of better credit. It is possible to rebuild credit after bankruptcy, but it takes patience, time, and a genuine willingness to establish healthy financial habits.
Here are 6 tips to help you get started on repairing your credit and regaining your financial freedom:
- Budget – Take a hard look at your finances and be realistic about living within your means. If your expenses outweigh your income, you may need to look at either reducing your monthly bills or bringing in more income. Ideally, you should try to put 5-10% of your income into savings each month. The bottom line is, don’t spend more than you make. Create a budget and stick to it.
- Review your credit reports – Know where your credit score stands so you know how far you need to go to get the score you want. Order your free report from one of the three major bureaus (Equifax, Experian, and TransUnion) and review it carefully. You will also want to be sure that any debts settled through your bankruptcy are not shown as existing debt. If you see any errors, take steps to dispute it right away so that it can be removed from your report.
- Apply for secured credit – Although It may seem counterintuitive to apply for new credit when are you trying to get your finances under control, actively building a new credit history is crucial for showing you can be financially responsible. A secured credit card allows you to put money on a credit card in advance so that you can use it later. Be sure you apply for a secured credit card through a reputable bank or company and only seek 1 or 2 cards to avoid taking on more credit than you can handle.
- Keep balances low – Aim to keep credit card balances below 30% of your credit limit. This ensures that your credit-to-debt ratios stay in a safe range, which will improve your credit score.
- Pay your bills on time – Pay all of your bills when they are due, including credit cards, loans or utilities. Creditors want to see that you are capable of making payments consistently and on time – missing a payment will damage your credit score significantly. Set up automatic payments to ensure you never miss a payment.
- Consult an expert – Seeking out the advice of professionals, like Great American Credit Repair Company, is always a good idea. Credit repair experts often give free consultations and can give you personalized advice in what approaches may work best for your specific financial situation.
Contact Great American Credit Repair Company today at 1-800-491-6578 and let us show you how you gain the financial freedom you deserve.
About Great American Credit Repair Company
Great American Credit Repair Company is a highly recommended credit repair company and a FICO Pro Certificate holder, with credentials from the National Association of Credit Services Organizations. Great American Credit Repair Company offers the only Money Back, Triple Result Warranty in the industry because we are confident we can deliver the results you need.
How does Great American Credit Repair work to restore your credit? Approximately 79% of all credit reports contain errors and aren’t verifiable. At Great American Credit Repair Company, we know most people don’t earn the credit score they deserve and will investigate every negative aspect of your credit report every single month to make sure you get the highest credit score possible.
Great American Credit Repair Company…….because you deserve a fresh start!
Call us today at (800) 491-6578 or visit us at http://greatamericancreditrepair.com for you FREE consultation and to get more information on how you can regain your financial freedom.
© Copyright 2016. All Rights Reserved.