Once your bankruptcy has been discharged, you’ll have the chance to start fresh. At The Law Offices of Paul Y. Lee, it’s true that we want to help you move forward with your bankruptcy but we also want to help you repair your credit and set yourself up for future success. There are three things we recommend you do once your bankruptcy has been discharged.
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Make sure your credit report is accurate
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Work on rebuilding your credit
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Stick within your budget
A month or two after your bankruptcy has been discharged, request a new credit report. Make sure that each and every creditor who was discharged reported you with either a closed account or a balance of $0.00. If you see that there are errors, then you’ll need to contact the credit reporting agency in writing. When you do so, be sure to include evidence, like your discharge order.
When the agency receives this correspondence, they have 30 days to verify the information with the creditor in question. If the creditor can’t verify that the balance they’re showing is accurate, then the credit agency will remove the reporting.
It’s also a good idea to contact the creditor in writing as well. Why? Because if you don’t, then it’s likely that they’ll keep reporting this incorrect information and it’s possible that they’ll try to collect from you. If they don’t take the actions required to correct the error, then they can be held liable. In fact, you could even file a claim against them.
Many people are surprised to learn that once their bankruptcy is discharged, they’re likely to get a ton of post-bankruptcy options from credit card companies. The best way to use these cards to improve your credit is to choose one card, use it for small purchases and repay it in full every month. This is a great way to start rebuilding your credit right away.
If you’re in need of a car, considering getting vehicle financing. Many financial companies won’t blink at the fact that you’ve just been through a bankruptcy, though they may charge higher interest rates. To avoid this, simply add a cosigner. If you follow these tips, you could be in a position to buy a home in just two years.
Most people who turn to The Law Offices of Paul Y. Lee file bankruptcy because they’ve had something unforeseen come up, whether they lost their job, had unexpected medical bills, or got involved with a bad mortgage. Now that those issues are behind them, it’s time to get back on track and live within their means. This means taking into account having savings for emergencies, saving for retirement, and having general savings.
If you need to declare bankruptcy then we’re ready to hear from you
When you work with the right bankruptcy attorney, you can trust that they’ll help you through the process from start to finish. That’s exactly what you’ll get with The Law Offices of Paul Y. Lee. When you have your free initial consultation, we’ll be honest and upfront about your options and will offer our advice on how you can best move forward. Call us at 951-755-1000 today for more information.
