Start Your Credit Repair Journey With The Help Of A Strategic Middletown Attorney
Many people assume that bankruptcy means the end of their financial life and that their credit score will be ruined forever. That’s simply not true. The point of bankruptcy is a fresh financial start, and in order to get that, it is critical to repair and restore your credit.
When you work with R. Richard Croce, LLC, you receive decades of experience on your case, as well as a debt-relief plan that specifically fits your needs. Aside from helping you with the bankruptcy process, I will also help you enroll in the 7 Steps to 720 Credit Score program at no extra cost. This program helps you start rebuilding your credit score as soon as your debts are discharged in bankruptcy.
How Credit Scores Are Calculated
A credit score is a three-digit number that represents your creditworthiness. It is a major factor in your ability to secure loans, mortgages, and in some cases, even employment. The most common credit score model is the FICO Score, which typically ranges from 300 to 850. Generally, having a higher score means you, as a borrower, present a lower risk to lenders.
Credit scores are calculated using information from three major U.S. credit bureaus: Equifax, Experian and TransUnion. While there can be minor variations across different scoring models, the FICO Score calculation depends on the five key factors:
- Payment history: This reflects your record of paying bills on time, so missed payments, late payments, bankruptcies and collections may impact your score
- Amounts owed: This refers to your credit utilization ratio, which is the amount of credit you’ve used compared to your total available credit limit
- Length of credit history: This factor considers how long your credit accounts have been open, including the age of your oldest and newest accounts, and the average age of all your accounts
- Credit mix: A diverse mix of credit types, such as credit cards (revolving credit) and installment loans (like mortgages or auto loans), can be beneficial, since it demonstrates your ability to manage different forms of credit responsibly
- New credit: Opening several new credit accounts in a short period can be a red flag to lenders and may temporarily lower your score
Rebuilding your credit score is possible, even after filing for bankruptcy. As your attorney, I will walk you through how your bankruptcy impacts each part of your score. Moreover, I will help you identify any opportunities to re-establish a positive payment history, as well as address any inaccuracies on your credit report that might be holding you back.
Actions That Can Help You Start Rebuilding Your Credit
Some steps to credit repair can include:
- Obtaining new low-limit credit cards to incrementally raise your credit score
- Suing credit bureaus for creditor harassment
- Leveraging your credit score with a spouse
- Establishing a working budget that can secure a debt repayment plan
- Adding your name as an authorized dependent to a friend or relative’s credit score
Regardless of your current financial situation, you need to know that you have legal options available to you. If you wish to learn how I help my clients in Middletown, Middlesex County and beyond reclaim their financial futures in as little as 12 to 24 months, please visit my 7 Steps to a 720 Score page.
Reclaiming Your Credit Is Easier Than You Think: Call My Firm Today
Stop focusing on the past. It’s time to reinvent your financial future. No longer do you have to suffer the weight or hardship of debt. The moment you call R. Richard Croce, LLC, you can rest assured that you will have a legal professional who is committed to helping you make educated decisions and take transformative actions to gain financial stability.
Call my office today at 860-398-4573 to schedule your free initial consultation. You can also fill out my online contact form. I serve clients throughout Middletown, Hartford, New London, New Haven and Meriden.
R. Richard Croce, LLC, is a debt relief agency. I help people file for bankruptcy relief under the Bankruptcy Code.
