The federal rules of bankruptcy procedure determine the rules for filing for bankruptcy. If you're swimming in debt, bankruptcy might be an option. However, bankruptcy does serious damage to your credit. Looking to build your credit & boost your score? The easiest way to do that is working w/a pro like Credit Glory.
How do the federal rules of bankruptcy procedure affect you?
The federal rules of bankruptcy procedure determine the rules for filing for bankruptcy. These rules define the bankruptcy code. That decides who can file for bankruptcy. It also decides what debts can be discharged, & what happens after bankruptcy. Bankruptcy can be an option if you're looking to clear debt, & it's important to know the rules of bankruptcy procedure before you do.
How does bankruptcy affect your credit score?
Bankruptcy does serious damage to your credit score. Bankruptcy drops your credit score as much as 200 points — and stays on for 10 years! This has a long-lasting impact on your financial health. Poor credit makes qualifying for loans & lines of credit hard. The ones you do qualify for likely come with high (& expensive) interest rates. Not good!
How to rebuild your credit after bankruptcy (& boost your score)
While bankruptcy can discharge debts, it seriously hurts your credit score. Luckily there are ways to minimize the impact of bankruptcy and start repairing your credit.
- Monitor your credit - Keeping an eye on your credit is an essential step in rebuilding it. It helps you track any progress you make and helps you quickly identify any errors and inaccuracies.
- Verify information - According to the FTC, 20% of the population has at least one error on their credit report. Inaccurate negative marks hurt your score. That's why it's essential to verify info on your report.
- Check your credit report for errors - Before you can dispute an error, you have to find it first. You can find common errors in personal info, account status, and balance & data mistakes.
- Dispute inaccuracies - Once you have found errors, you can dispute them. This means gathering evidence, writing a dispute letter to all 3 credit bureaus, & waiting.
Bottom line (& why it matters for you)
Bankruptcies have a long-lasting effect on your credit. Luckily, you have options. You can check your credit report for errors and dispute them yourself — but this is hard (& time-consuming). The easiest way to dispute errors (& boost your score)? Working with a credit repair expert (like Credit Glory).
Start repairing your credit (& boost your score) with help from Credit Glory
Disputing negative items on your credit report is hard work! It takes a lot of time, effort, organization, and follow up. The good news? Our team of credit repair professionals is here to simplify everything! Let your dedicated credit repair expert relieve you of the stress, hassle, and time needed to fight your inaccuracies and boost your credit score (FAST!)
Credit Glory is a credit repair company that empowers consumers with the opportunity and knowledge to reach their financial dreams in 2021 and beyond.
Call us at (855) 938-3044 or set up a consultation to get started, today!
Get Your Bankruptcy Removed Professionally
In some cases, we recommend speaking with a Credit Repair professional to analyze your credit report. It's so much less stress, hassle, and time to let professionals identify the reasons for your score drop.
If you're looking for a reputable company to increase your credit score, we recommend Credit Glory. Call them on (833) 766-4803 or setup a consultation with them. They also happen to have incredible customer service.
Credit Glory is a credit repair company that helps everyday Americans remove inaccurate, incomplete, unverifiable, unauthorized, or fraudulent negative items from their credit report. Their primary goal is empowering consumers with the opportunity and knowledge to reach their financial dreams in 2020 and beyond.