Credit Restoration Services in Chicago

If you have just filed for bankruptcy, you are probably very concerned about how your bankruptcy status will affect your future. You may be thinking, is my credit permanently destroyed? Will I still be able to apply for new credit? Can I still obtain a loan? Can I still buy a car or home?

As an experienced Chicago bankruptcy lawyer, I have helped thousands of clients restore their credit after filing for bankruptcy. Although it may seem like you will never get through this difficult time, the truth is there a many effective ways to restore and rebuild your credit.  I can work with you one-on-one to restore your credit and help you get your finances back on track after filing for bankruptcy.

How to Restore Your Credit After Bankruptcy

After you have filed for bankruptcy, the first thing you should is to look over your credit report to ensure that no derogatory marks have been made against your credit.  All of your dischargeable debt should reflect that they were discharged during bankruptcy. Sometimes creditors will report that you were late or failed to make payments toward your debt, even after you have been granted bankruptcy. In fact, 79% of all credit reports contain some type of error or another. Furthermore, nine out of 10 creditors do not update your credit report after receiving a bankruptcy discharge. By reviewing your credit report, you can ensure that it is accurate and up-to-date, and that your creditors have not reported any false or misleading information about you.

After you have reviewed your credit report to make sure it is free of inaccurate, outdated, or misleading information, there are a number of other steps you can take to restore your credit, such as:

• Dispute any inaccuracies that appear on your credit report to the Credit Reporting Agency.
• Obtain a debit card or secure credit card. If you pay it off on time every month, it will help you build credit and increase your credit score.
• Secure a bank loan. Securing a small bank loan and paying on-time payments every month will help you build credit and increase your credit score. Even better if you can pay it off earlier than the due date.
• Find a co-signer. Having a co-signer will open more doors and can help you get your own line of credit. Once you have a line of credit in your name, paying it off on time every month will help you build and raise your credit.
• You can request that your spouse’s credit be reported in both names. The Equal Opportunity Act of 1975 permits married couples to share credit. Your spouse’s good credit can help you improve your own credit score.
• Try to buy a car or home. Successfully making a car or mortgage payment will dramatically help your credit score.
• Try to keep a current and positive credit report by paying all bills on time, and by making more than the minimum payment, even if it’s just a few dollars more.

As you can see, it’s not impossible to restore your credit after filing for bankruptcy. That being said, it’s in your best interest to work with an experienced and skilled Chicago bankruptcy attorney to help you through this process. With years of experience under my belt, I can help you take the steps you need to get your credit back on track. You may not understand how to read your credit report. I have extensively studied the credit reporting and scoring system in order to advise you and all of my other clients in the best possible way. When you come to my office, I will sit down with you to review your credit report, explain any markings that appear on the report, and determine whether or not the markings are inaccurate or accurate. I will also personally answer and discuss any questions or concerns you may have. Furthermore, I will aggressively go after creditors who continue to report false information, and demand that they immediately remove all false or misleading information from your credit report.  After a successful credit restoration, your credit score may increase, on average, anywhere from 20 to 100 points, which will open a lot more doors and many more opportunities for you in the future.

More than anything else I strongly believe that every person deserves a chance to better themselves and improve their current financial situation. I promise to work hard for you, and to do whatever I can to help you overcome your financial obstacles so you can feel financially secure once again.