7/13 Bankruptcy Relief

    • Free Initial Consultation

      (719) 201-4527
      (DENVER METRO 303-730-8819).
  • ARCHIVES

  • Tips on Repairing Your Credit after Bankruptcy (Part 2)

    Borrowers who are focused on repairing their credit after bankruptcy can do so by following these tips that will help them slowly rebuild their credit rating.

    Borrowers who are focused on repairing their credit after bankruptcy can do so by following these tips that will help them slowly rebuild their credit rating.

    As a continuation of Tips on Repairing Your Credit after Bankruptcy (Part 1), the following are some additional tips that can help borrowers who have recently filed for bankruptcy slowly repair their credit and get back on their feet financially.

    • Consider taking out one credit card – Although this can be a risky tip (especially if credit card debt was the primary factor that got a borrower into financial trouble in the first place), having a single line of credit that is regularly and diligently paid off can do wonders to helping improve borrowers’ credit ratings after bankruptcy.

      For these lines of credit, borrowers will generally have to pay a deposit and to put up with particularly high interest rates, as creditors are weary of offering deals to those who have a recent bankruptcy on their record. However, once borrowers secure such a credit card, they can slowly start to improve their credit rating (and, within months, become eligible for better credit deals) if they can prove that they are able to consistently make payments on this line of credit. Because it’s important that borrowers are able to pay off the charges on these cards in full each month (i.e., avoid carrying a balance across months), they should dedicate these cards to only paying for a discrete amount of purchases (such as weekly groceries).

    • Regularly review your credit report – At least once a year, and preferably once every six months, borrowers who have filed for bankruptcy should carefully look over their credit report to make sure there are no debts on it that should have been discharged by bankruptcy or that the borrower did not, in fact, create himself. By reviewing one’s credit report for possible discrepancies, borrowers can quickly resolve such problems, which can be critical to improving their credit after bankruptcy.

    If you are struggling with debt and are looking for a financial fresh start, contact the trusted Colorado bankruptcy lawyers at The Law Office of Andrew McKenna. For more than 20 years, we have been successfully overseeing our Clients’ bankruptcy cases so they can resolve their financial issues as beneficially as possible. Our comprehensive legal knowledge coupled with our vast experience allows us to consistently and efficiently help our Clients achieve the best possible resolutions to their financial matters. For an evaluation of your case and expert advice regarding how to move forward, call us at (719) 201-4527.

    
  • ANDREW McKENNA’s CREDENTIALS

    25 Years of Experience
    NACBA Member
    Only represents consumers
    BBB Accredited, A+ Rating

  • MEMBERSHIPS

    Click for the BBB Business Review of this Attorneys & Lawyers - Bankruptcy & Taxes in Denver CO