I am planning to sign up for your credit repair program. Can you give me any encouragement about the odds of me recovering from my recent bankruptcy?
You can recover from a bankruptcy. And you can do so fairly quickly. If you combine credit repair with a little credit rebuilding and careful debt management there is no reason that your credit scores cannot cross the 700 mark within two years. This means that you will be able to obtain credit cards, auto financing, and even a mortgage, all at good rates and terms. Credit repair after a bankruptcy is a science. All you need to do is take the necessary steps and watch your scores return to health.
Clean it Up
Start by cleaning up your credit reports. This is the province of credit repair and the reason that you are planning to get started with our credit repair service. Bankruptcy tends to spawn errors, many of which are likely to hang on for years unless you take action to have them corrected. It is not unusual, for example, for creditors to continue to report discharged accounts as open with past due balances. You may also find collection accounts lingering erroneously. Errors like these will seriously depress your scores and must be rectified.
Get Back Into the Game
In addition, you must rebuild your credit for post-bankruptcy credit repair. Open two secured credit cards. This is easy and you will not get denied. Secured cards are the perfect accompaniment to your credit repair program and are capable of boosting your scores dramatically. Keep in mind that for the first few months that these new untested accounts appear on your credit report your scores will suffer. If you notice this, do not be discouraged. Within six months you will start to reap the benefit. And make sure to make your payments on time and keep your balances down.
Manage Your Debt
The final ingredient in your bankruptcy recovery plan is to manage your balances for score optimization. You must use your new cards. Give them a little workout each month, but not too much. For the best credit repair results you should only utilize twenty percent of the card’s limit. And when you get the bill, make your payment but leave a small amount, like ten dollars, on the card so that it is certain to consistently report as active every month.