Credit Repair After Bankruptcy in Minneapolis

Our experienced bankruptcy attorneys at Walker & Walker Law Offices, PLLC, can offer advice and representation to rebuild your finances with credit repair after bankruptcy in Minneapolis.

What Steps Can You Take To Repair Your Credit?

Keeping track of your credit score after you file a Minneapolis bankruptcy petition is an essential component of credit repair. Many banks and several independent agencies provide free or low-cost credit score monitoring. In addition, at least once per year, you should request copies of your credit report from all three credit rating agencies. You can get those copies for no charge online. Review all three reports carefully to verify that they are accurate and complete.

With your credit scores and reports obtained, you will be in a better position to start rebuilding your credit, which can include:

• Applying for a secured credit card, which will require you to deposit cash equal to that card’s credit limit
• Avoiding using the full amount of your credit and making efforts to use no more than half of the credit limit of your accounts
• Making timely payments of more than just the minimum amount required
• Applying for personal, unsecured credit-builder loans with a one- to three-year term, and committing to making regular, on-time payments
• Preparing a payment schedule for all of your debts, including rent or mortgage, utilities, and car loan payments, to help you track all of your bills as they become due
• Asking a family member to co-sign a credit application

Walker & Walker Law Offices, PLLC’s credit repair legal team can offer additional suggestions that may fit with your specific situation. Keep in mind that credit repair after bankruptcy is a long-term, continuing process. You might not see a substantial positive effect on your credit for 12 to 24 months after you begin this process.

What Might Harm Credit Repair Efforts?

You can harm your efforts to rebuild your credit in Minneapolis after you file a bankruptcy petition by:

• Submitting too many credit card applications or seeking multiple personal loans, each of which can lower your credit score by generating a hard inquiry into your credit history
• Missing or making late payments, which may prompt calls from collection agencies
• Limiting yourself to one type of credit rather than a mix of different types of credit, including car loans, credit cards, or equity lines of credit
• Using more than 30 percent of your credit limit on any one credit card

One significant risk is engaging with a credit repair company that requests an upfront fee and then disputes items in your credit history using invalid or fraudulent claims. Call our lawyers at Walker & Walker Law Offices, PLLC if one of these agencies contacts you. Our credit repair team members can help you determine which services are legitimate.

Contact Our Minneapolis Office For Help Restoring Your Credit Following a Bankruptcy Filing

For more than 40 years, Minnesota residents have relied on the attorneys at Walker & Walker Law Offices, PLLC, for information and seasoned legal assistance with credit repair after bankruptcy in Minneapolis. Contact us today to schedule a free initial meeting with one of our credit repair attorneys.