| While bankruptcy is never an easy choice, it does | | | | acquiring a small amount of credit. If you still need |
| provide a new financial start for you if you are | | | | help, contact an expert in Minneapolis bankruptcy |
| otherwise unable to uphold your financial | | | | law for an accountant referral. |
| obligations. Bankruptcy does damage your credit | | | | It's okay to be discerning about applying for credit. |
| history but it is possible to recover if you take | | | | Try finding one credit card with a low interest |
| the appropriate steps and avoid common errors. | | | | rate and, before using the card, make sure you |
| To recover from bankruptcy, consult your | | | | can pay your balance in full each month before it |
| Minneapolis bankruptcy attorney and follow these | | | | is due. If you can succeed in this you'll eventually |
| rules for credit repair. | | | | see your credit score rise. |
| Check and Revise Credit Report | | | | Ignore Bad Deals |
| It's up to you to ensure that your credit report is | | | | It's just like turning eighteen all over again- once |
| up to date. When you've paid off a debt, follow | | | | your debt has been discharged you'll receive a |
| up and make sure you credit report reflects an | | | | multitude of offers for credit cards and loans. |
| accurate status. Once your debt discharge is | | | | Most of these are bad deals initiated by lenders |
| complete make sure you look over a copy of | | | | hoping to take advantage of you as you emerge |
| your credit report with your Minneapolis | | | | from bankruptcy. To avoid this, consult your |
| bankruptcy lawyer. | | | | Minneapolis bankruptcy lawyer and read all |
| You can appeal any inaccurate information by | | | | contracts very carefully-including all that fine print. |
| reporting it to TransUnion, Experian, and Equifax. | | | | Establish Secured Debt |
| If your information has not been updated a few | | | | You should be able to establish some sort of |
| months following the discharge of debt, contact | | | | secured debt immediately with a secured credit |
| these national credit reporting agencies directly. | | | | card. By paying up front, you can build your credit |
| Reestablish Credit-Slowly | | | | and avoid charging more than you can afford to |
| Begin reestablishing post-bankruptcy credit by | | | | pay. |
| paying all monthly bills (car, mortgage, utilities) | | | | It's unfortunate that you've had to file for |
| each month before they are due. Before you | | | | bankruptcy but once you are finished the process, |
| incur further debt or sign up for a new payment | | | | you will be able to recover quickly if you simply |
| plan, ensure that you can afford it. When there is | | | | follow these methods. |
| money leftover after monthly payments, consider | | | | |