How to Improve Your Credit Score
Maximizing your credit score or FICO Score is an important part of your financial future. There are many components to a good credit score - the most important components are a low debt-to-income ratio, and a history of timely payments.
Credit Score And Bankruptcy
Banks, credit card companies and other greedy lenders have created the myth that filing for bankruptcy will prevent you from ever having a high credit score. This is entirely false. In fact, for many people bankruptcy is the first step to building a solid credit score. But be careful - Credit scores need to be used properly with the knowledge and advice of an experienced attorney at the Law Offices of Neil Crane, where we know how to create high credit scores without debt.
At the Law Offices of Neil Crane, we understand the true importance of credit scores and your debt-to-income ratio. High credit scores are great, but your debt-to-income ratio controls your entire financial life and your financial future.
To learn more about credit scores pre- and post- bankruptcy, contact an experienced debt relief attorney at the Law Offices of Neil Crane. We have over 30 years of experience in providing solid debt relief solutions and credit score recovery.
Post-Bankruptcy Credit Scores
Recent and long-overdue government regulation of the three credit reporting agencies, TRW, Experion and Equifax, has been focused on making credit scores properly reflect a borrower's likelihood of repayment. Most importantly, this means that your debt-to-income ratio is now of paramount importance to a high credit score.
As a result of the recent change in credit score requirements, people paying perfectly on high credit limits are experiencing plummeting credit scores while post-bankruptcy individuals with no debt are experiencing immediate credit improvement.
With proper legal advice from experienced credit and debt attorneys like the lawyers at the Law Offices of Neil Crane, you can change your high debt nightmare into a solid financial future with a great credit score.
Post-bankruptcy lending at low rates has never been more available than it is today. Lenders love post-bankruptcy customers - They have no debt. But you need to be more careful than ever, since high post-bankruptcy credit scores can become a trap, instead of a solution.
It is important to realize that your FICA credit score is not nearly as important as your debt-to- income ratio or your bank account balance. Learn to make your high credit score a tool for financial health and not an invitation to financial disaster. We offer many tips to improve and protect your credit rating after bankruptcy:
- Budgeting is key - make a budget and stick with it
- Get a credit card and pay if off every month - never carry a balance
- Keep a credit card as credit and not as debt
- Make down payments - do not buy houses or cars with no money down
- Create a personalized layaway plan and save for large items
Credit Card Offers After Bankruptcy
Credit card solicitations will arrive immediately after you file for bankruptcy. Be careful. There are numerous ways that this can become a trap. Our experienced bankruptcy and debt relief attorneys, know how to make bankruptcy and debt relief the beginning of a solid high credit rating, lower interest rates and a sound financial future. Be certain to contact us to learn how we can make a difference in your credit life.
Begin Rebuilding Your Financial Health
To talk with an attorney about your credit rating and improving your credit score, please do not hesitate to call us today at 203-230-2233 or toll free at 888-249-3027, or complete our online contact form to discuss your questions and concerns with an experienced attorney.