Julian Credit Management is a non-profit, nationwide
debt consolidation and credit counseling organization, located in Central Florida.
Our dedicated counselors can help you restructure your bills
and make a payment plan that can cut years and thousands
of dollars off your long-term debts like credit cards, mortgages, and other loans.
Our debt management program can help you repay your debts:
We help you establish a spending plan, determine your financial options,
save money on interest and late fees, get your creditors off your back,
and provide you with useful information.
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Filing bankruptcy can improve your credit, and there are steps to take to raise your credit score after bankruptcy.
If you are thinking about or already planning on filing bankruptcy, chances are your credit has already been affected, by slow or late payments, repossessions, extended credit or even foreclosures. Because of this, your credit after bankruptcy may actually be better than before, since the debts no longer count against your income once they have been discharged. A bankruptcy filing stays on your credit report for up to ten years, and late payments stay on for up to seven years, so the effects are similar, but bankruptcy gives you a chance to have fresh start in order to improve your credit faster because you will have an improved debt to income ratio to help.
So how do you rebuild your credit after bankruptcy? In some cases you may be able to keep one of your credit cards; this can happen in two ways. One way is to keep a card that has a zero balance, you don't have to notify the company that you are filing, though they may find out anyway and there is a possibility of the creditor canceling the account. The other way is to reaffirm a debt on a card that means that you sign a contract with the company after you file bankruptcy that says you will pay off the debt anyway if they allow you to keep the card. Companies are usually willing to do this because they get paid for the debt, whereas if you didn't reaffirm it would be discharged in the bankruptcy.
Getting a new credit card after bankruptcy may improve your credit. In order to improve your credit you should pay off the credit card each month instead of carrying a balance and that will begin to have a positive effect on your credit history. You may pay higher interest rates and usually have a lower limit, however, it is possible to attain a credit card, also purchase a vehicle as well as purchasing a home usually within a short period in time after filing your bankruptcy.
Julian Credit Management is a firm that practices exclusively in the area of Bankruptcy and Debt Consolidation and has offices in Clearwater (Pinellas County), Port Richey (Pasco County), Tampa (Hillsborough County), Lakeland (Polk County) and Orlando (Orange County). We represent persons throughout the State of Florida.
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