One of the most important resolutions that you can make is to rebuild your credit after bankruptcy. However, you may not know where to begin. Today we'll show you some simple ways to get your finances back in order, and rebuild your credit.
Simple Ways to Rebuild Your Credit
Rebuilding your credit really isn't complicated, but that doesn't mean it's always easy to do. You may have gotten into bad spending habits or had bills pile up due to a serious illness or job loss. That doesn't mean you're doomed to live the rest of your life with bad credit.
To fix your credit after bankruptcy, you will need to do a little work. Some ways to do this include:
- Address the cause of bankruptcy. This important first step will show you which area of your finances you need to focus on the most. Do you need to rein in your spending? Or is building an emergency fund a high priority.
- Set a budget. Setting a budget, and sticking to it, will help you get your finances back on track.
- Pay bills on time. Using a calendar and automatic bill payment will ensure that your bills always get paid on time.
- Re-run your credit report. Every year you are allowed to get a free copy of your credit report from each of the major credit bureaus. Get these reports, look them over carefully and dispute any errors.
- Get a secured credit card. A secured credit card that reports transactions to the credit bureaus can help raise your credit score.
- Avoid credit repair companies. If your bankruptcy has been discharged, you will probably be inundated with offers from credit repair companies. Many of these use illegal tactics to "repair" your credit.
- Obtain a loan. A loan, such as an auto loan after bankruptcy, is one of the best ways to rebuild your credit. The important part is to make sure that the loan payments fit into your budget and that you make the payments on time.
Auto Loans after Bankruptcy to Rebuild Your Credit
Here at Bankruptcy Auto Financing, we know that auto loans after bankruptcy are one of the best ways to rebuild your credit. Although this may seem impossible, based on your credit history, there are a number of bankruptcy dealerships that help people just like you.
We work with a vast network of lenders who report your on-time payments to the major credit bureaus. If you're ready to get back on the road to financial freedom, simply fill out our easy online application. One of our friendly auto loan specialists will help you get into a car, truck or SUV that you'll be proud of.
Remember, we are not lawyers and cannot give legal advice. The situations discussed are only our experiences over the years and may vary with each customer.