Following bankruptcy credit repair is one of the key goals to focus on.
While bankruptcy may prevent you borrowing for sometime, you know that at some stage in the future there will be a requirement to secure a loan. When the time comes your credit score needs to be as high as possible.
Some important steps you can take to improve your credit rating are:
- You are allowed one free credit report per year. Get a copy and look for any errors . Contact the agencies directly and have them put right. Your lawyer may help with this.
- Get you remaining debts under control, consolidate them if necessary and ensure regular payments are made.
- Make all your payments early if at all possble.
- Ensure that your lenders report your payments regularly to ratings agencies.
- Be very careful about taking on any more debt, you need to be 100% sure that the debt can be serviced.
Your objective is to demonstrate to your creditors and credit agencies that you are now in control of your spending and are able to repay any money owed. Its a matter of building up trust again. This will take a long time and you should not expect instant results.