Ignite FB Tracking PixelHow to Repair Credit - Barry Lieberman
How to Repair Credit

by Barry Lieberman 05/12/2019

No one wishes to go bankrupt, but it sometimes happens. When you understand that bankruptcy is not the end of your financial journey, you will have enough strength to start all over. It can be an opportunity to move forward and develop a better, personal financial plan.

Taking the right step is a good measure against any other round financial problem that may arise later. You will be adequately fortified against any form of financial embarrassment if you take the right step. Here are the steps to take to repair your credit card after bankruptcy. 

Repair your credit

Bankruptcy will create a lot of unwanted remarks on your credit. Situations like missed payment, overdrawn credit limit will show on your file. The fact is, some of these negative remarks should fall off once the financial distress is over. Updating your information may be delayed by the creditors, thereby impeding your efforts of rebuilding your credit card. Therefore, the first step to take after bankruptcy is to clean up your credit card.

Get a secured credit card 

Your target after completing a bankruptcy is to build better credit. It is crucial that you open a credit account that you can use to improve your score steadily. Most credit card providers approve secured credit cards readily.

Diversify with loans 

The right step to having a better credit is to go for a smaller loan that will be easy to pay back. In most cases, the loan is small, and you can use it for making essential purchases, repairing of homes, and investment. This move enables you to pay off your debt without any hassle and at the same time, build a better financial outlook. 

Irrespective of the type of loan you choose, try always to pay the bills early every month. After repaying what you owe, you can then consider taking another loan to enable you to keep diversifying and creating a good payment history in your credit file. 

Keep an eye on your credit to monitor your progress 

Monitoring your credit after bankruptcy is essential as it helps you to keep watch on your credit score. The credit monitoring service and ID theft prevention will help you in this regard. 

When you sign up for a credit monitoring service, you will be able to know your financial activities affect your credit score. You will also be able to make better decisions once your credit has improved enough to qualify you for an auto loan.

About the Author

Author
Barry Lieberman

Why choose Barry Lieberman?

˙  Barry is a RE/MAX "Hall of Fame", "Diamond" &"Chairman's" Realtor

·  Barry now ranks among the Top 1% of over 125,000 RE/MAX Realtors Worldwide

·  Barry is ranked among the Top 50 RE/MAX Realtors in the United States

·  Barry is the #1#1 selling Realtor in Lake Arrowhead every year for the last 7 years

Who is Barry Lieberman?

Barry's family has owned vacation properties up here for decades &Barry became a full-time resident in 2000 after deciding that this was the place to raise his family.

He has three children with one graduated from Cal State San Bernardino in the Nursing Program and received her Bachelor's Degree with Honors and is now serving as an RN at St Bernardino Hospital's Emergency Room.   His younger daughter has received her Real Estate License and has now joined his Real Estate team.  When she is not working, she volunteers on teaching assignments in foreign countries.  He has one still in school that wants to be a contractor.   Their hobbies are mountain-based and range from hiking,skiing, fishing, boating, biking & camping.

Barry & his family have been long time supporters of The City of Hope, The Make-A-Wish Foundation, American Cancer Society & The National Kidney Foundation.  You will be glad to know that with every transaction, Barry automatically donates to both the "Children's Miracle Network"and the Susan B Komen "Race for the Cure"!

As they say...come up for the day & you just might stay for a lifetime!