Developing Habits to Increase Your Credit Score
Bankruptcy is a way for individuals who are facing mounting debts to clean their slate and move forward with a fresh outlook on their financial stability. Although filing for bankruptcy may eliminate any overwhelming debts, it can also weaken your credit score. The period of time immediately following the bankruptcy is crucial in rebuilding your score and developing habits that may help you in the future.
If you are considering bankruptcy or have questions regarding your financial situation, seeking professional legal advice is important. A Florida bankruptcy attorney at the law offices of Ryan J. Really would be happy to speak to you about your options. Call our offices today at (239) 237-0675.
Helpful Credit Score Tips
When considering a credit score, a financial institution will take into consideration your previous debts and any current debts. Some of the ways you can begin to improve your credit score include:
- Make regular payments. Even if it is the minimum amount, showing your creditors that you are reliable enough to pay off your debts a little at a time can help to improve your score.
- If you are using credit cards for major purchases, try to keep your balance below 30% of the maximum line of credit. The lower the amount on the credit card, the more likely you are to pay it off and avoid debt.
- Do not max out a credit card. This will not show a financial institution that you deserve a higher credit score.
Working with a professional bankruptcy attorney can be very helpful in understanding your financial options and making good choices for your future.
For more information about bankruptcy and credit, contact a Florida bankruptcy attorney at the law offices of Ryan J. Really at (239) 237-0675.