Credit Recovery After Default

Missed payments and delinquent accounts is the fastest road to credit damage. While many people have ended up with poor credit through no real fault of their own, anyone dealing with low credit score face challenges ahead. However, there are some options for successfully repairing your credit:

Consider bankruptcy — filing a bankruptcy case can eliminate your debt balances and resolve your delinquent account status, giving you a clean slate for rewriting your credit profile.  Some Dallas bankruptcy lawyers also offer credit rebuilding programs to their clients after debts are discharged.

Consult with credit repair agencies — there are many companies that offer to help you rebuild your credit, just be sure its the right solution for you. Steer clear of any company that makes promises to remove all negative information from your credit report, requires upfront payment, or encourages you to use false information for rebuilding your credit.

Create a plan — you can repair your credit yourself by outlining a plan and sticking to it. Dispute any false or missing information from your credit reports and be sure they are up to date. Develop a plan for using credit again that includes small balances with timely payments that bring the balance to zero every few months. Avoiding taking out new credit until you can see your score begin to improve and always make sure you aren’t using any new credit for convenient spending.