Monday, December 15, 2014

SAMPLE Legal Blog Post

One of the most common things that people worry about when they enter into the bankruptcy process is credit. Unfortunately, what they don't realize is that they've already done a lot of damage to their credit. However, they seem to think that bankruptcy is only going to complicate things further. While filing bankruptcy can pose more challenges in the future, it isn't going to stop you from being able to get credit again. In fact, it can actually give you a better chance of doing so.

It isn't difficult to get credit after bankruptcy. There are actually creditors who are willing to offer you a line of credit right after you've been discharged. These lines of credit are not as good as you might want and they may carry some steep terms with them.

After having your bankruptcy discharged, spend time reviewing your credit report to make sure that all of your information is up to date before shopping around for the best offer. This will allow you to pass on high limit cards, opting for one with a lower limit and a better interest rate instead. With this card you'll want to maintain a small balance to start building up your credit again. Keep this balance at less than 30% of your overall spending limit and always make consistent, timely payments. After about 6 to 12 months you can choose to take on a higher limit or a secured line of credit but the key here is to take small steps towards building up your credit once again.

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