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Phones answered 24/7

Stockton 209-390-8877

PLEASE NOTE: To protect your safety in response to the threats of COVID-19, we are offering our clients the ability to meet with us in person, via telephone or through video conferencing. Please call our office to discuss your options.

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STOCKTON
Contact us for a
Free Initial Consultation
Phones answered 24/7

PLEASE NOTE: To protect your safety in response to the threats of COVID-19, we are offering our clients the ability to meet with us in person, via telephone or through video conferencing. Please call our office to discuss your options.

We help clients throughout Northern California overcome their legal challenges and move forward with their lives.

Our inside knowledge gives clients the edge they need to defend themselves against criminal charges.

At Bird & Van Dyke, we help clients put the pieces back together after being injured in an accident.

Contact us at 209-390-8877  to schedule a free consultation.

LOCAL ATTORNEYS, LOCAL REPRESENTATION

LOCAL ATTORNEYS, LOCAL REPRESENTATION

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How can you rebuild your credit score?

On Behalf of | Mar 1, 2021 | Personal Bankruptcy |

If you are like most people, you worry about your credit score. If you have to file for bankruptcy, it may feel like you will have a low score going forward. The truth is that no matter the reason for your low score, you can rebuild it.

U.S. News explains that how you rebuild your score may depend on your starting part. If you have a relatively high score, it will take you less time to build it up.

Maintain a low balance

Sometimes, keeping a low balance on your credit cards is easier said than done. If you want to rebuild your credit, credit bureaus want to see your utilization ratio at 30% or less. For example, if you have a $10,000 credit limit, then you should owe no more than $3,000.

Stay up to date on bills

The most important step to take when building a credit score is to pay your bills on time. Being late on your credit card or loan payments can affect your score. 35% of your overall score takes your payments into account.

Borrow to pay back

Credit bureaus appreciate credit diversity. If you want to raise your credit score, then you have to prove that you are a good credit risk. If you have creditors willing to loan you money and then you pay that money back, you will see a steady rise in your overall score. You may want to have an installment loan and revolving credit.

Credit scores can fluctuate. No matter your situation or the hit to your credit, you can always build it again.

 

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