Best Way to Rebuild Your Credit After Bankruptcy
No matter how bad your credit may be, it can always be repaired, restored and rebuilt.
There are 3 ways you can start rebuilding credit:
It cannot be done overnight. You do have to make a choice which way fits your personality. Credit doesn’t rebuild itself. But when you take the right steps, you can look forward to enjoying good credit and all the benefits that come with it.
Credit-Yogi’s Best Credit Rebuilding Services:
How to Rebuild Your Credit
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Professional Help Rebuilding Credit
The best way to clean up a poor credit report is to either learn from, or hire a credit repair professional. If your credit is poor, your report may contain errors and inaccuracies and old, long-resolved issues from a rough time in your life. Even though you pay all your bills on time now, your credit report still keeps you from getting low interest rates on loans and credit cards. One call to Credit Yogi will put you in contact with professionals who will provide a free credit analysis, free consultations, and then help you get to work restoring your good credit.
Set Up a Payment Plan to Pay Off Creditors
Do you still have outstanding debts on your credit report? You need to be proactive and work out a reasonable payment plan with your creditors. You can do this on your own, or we can connect you to a reputable credit counselor who will work on your behalf to negotiate better terms. You can do this while your specialist is repairing your credit report.
Rebuild Your Credit with New Credit
Many people assume that after repairing bad credit, they can rebuild and improve their credit by not using credit, instead paying cash for everything. The truth is that acquiring new credit and paying it off promptly is the fastest way to rebuild your credit.
Apply for a credit card and use it ONLY for the purpose of rebuilding your credit. If you don’t qualify for a regular credit card, apply for a secured credit card. The interest rates may be higher, but you’re going to pay off the balance you accrue on time and in full each month to avoid all interest charges. Here’s how to do it:
- Use the card to buy one thing you normally purchase, like a tank of gas or a week’s worth of groceries.
- Set aside the amount you put on the card and don’t spend it. You can subtract it from your check register or transfer it to savings until your credit card bill arrives.
- Pay the entire balance on the card on time or early.
- Do that every month and your credit report will start glowing
You can also apply for a store credit card that often comes with several advantages. You may get a discount on your first purchase, and you can pay off the balance immediately. So, you might buy a pair of jeans, open a store credit card, get a discount, and then use cash or a debit card to pay off the balance right there at the register. You won’t have to worry about paying the bill later.