For the past couple of months, I have been sharing with all of you some of the financial problems our 26 year old daughter has gotten herself into. If you remember, she got into a lot of debt for not having medical insurance when her daughter needed some emergency surgery. You can find some help and some advice from Cary Bankruptcy Attorneys if you are in the same situation.
Now that her bankruptcy has been completed she is working really hard to overcome it. Today, we thought we would share with you some tips she is doing to help improve her credit score and to build a new line of credit again.
* She is paying off her bills as they come in. She is not letting any balances roll over to the next month.
* She got herself a prepaid credit card and when she needs to use a credit card she uses that. This will also help her later down the road when companies look at her credit score.
* She tries to use cash as much as possible when making purchases. If she doesn’t have the cash, she doesn’t buy. She isn’t racking up credit cards anymore.
* If a store has a layaway program, she uses that instead of credit cards.
* For past bills that do have balances (ones she couldn’t claim bankruptcy on), she is making payments and paying a little more than the minimum due. In time, she will get those paid off and that will help to improve her credit score.
Instead of ignoring past debt issues, she is taking them head on and doing something about them. Ignoring these types of problems only makes them worse and at some point in time, you will have to deal with them.
Have any of you every had to file for bankruptcy and if so, how are you overcoming that now that it has been done? Do you have any tips for me to share with my daughter?