You can't do anything to change your past, but you can start today to improve your personal credit score. Once you have made the commitment to put ‘bad credit' behind you, and you can, you must demonstrate this with actions that show you are indeed credit worthy. How?
Start with the facts. Knowing what's in your credit report puts you in control. Make sure all information is accurate and complete. Pay particular attention to the reason codes. You need to know what it is that you need to repair, and the reason codes will give you direction.
Responsibility is key. You need to consistently show that you are a responsible and conscientious borrower. Start building a good payment history. A good record of on-time payments will help boost your credit score. If you have credit cards, try not to ‘max them out'. The amount of debt in relation to available credit can be a red flag to lenders. Make a concerted effort to reduce the debt you are carrying. If you consistently use credit wisely from this point on, over time you will establish a credit history that shows you are a less risky borrower.
And did you know, every time you, or someone else-a lender or business- checks outs your credit, it causes a ‘hard inquiry' to your credit file. So for now, it's best that you apply for new credit in moderation, and avoid new inquiries for a few months if possible.
As for getting credit after bankruptcy, start building bridges. Seek out and discuss your credit situation with your lender or financial advisor. They can review your situation and credit report with you. They may offer further explanation and possible steps that you could take to re-establish or improve your credit score, and get you where you need to be in order to qualify for credit once more.
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