Tips for Maintaining/Rebuilding Healthy Credit to Avoid or Recover from Bankruptcy

Let’s face it, we live in a world that revolves around credit. These days, you cannot purchase a home or car, or even be hired for some jobs, without a “good” credit score.

The problem is, most of us don’t know how to properly maintain our credit to keep it “good.”

Once we’ve lost control of our credit, we may have to seek debt relief, sell off assets, face repossession and/or even look at declaring bankruptcy to help us recover.

No one wants to face any of these difficult choices.

Here are some simple tips to keep in mind when dealing with your credit either pre- or post-bankruptcy.

Practice self-discipline.

Some companies provide credit with the hope that you will be irresponsible and overextend yourself financially. This way, they can penalize you with large fees they get to pocket. The best way to approach credit self-discipline, is to limit your sources of credit and maintain them. Have between 3 to 5 credit cards, including a gas card, and use them wisely. Your ability to use these cards responsibly, along with making timely payments on your rent/mortgage, cars and other regular bills, will provide you a solid foundation from which to grow your credit.

Keep your balances low but do use your credit cards.

Remember “ashes to ashes, dust to dust. If you don’t take it out and use it, it is going to rust.” Just having credit open will do nothing for your credit score. Have a card for groceries, have a card for incidentals (car repair, maintenance, appliance replacement, etc.), have a gas card and one for entertainment (dinners, dates, movies, etc.). If you’re diligent and stick to your budget, having these credit cards will help rebuild and maintain your credit score. Over time, responsible spending and timely payments will turn into a healthy credit score.

NEVER pay off your balances on credit card accounts completely.

This may seem counterintuitive, but it will hurt you in the long run. We all know credit card companies are in business to make money. If they’re not earning interest from the “money” they have lent you, you’re no longer a valuable asset to them, and they will eventually close your account. The trick is to pay down your balance until about 5-10% remains. If your debt owed is $100.00, pay $90.00 to maintain a balance on the account, thus providing your creditor with a very small interest fee to pocket.

If you stick to a budget, limit your credit sources and practice self-discipline, you will be able to recover from or avoid bankruptcy altogether.


Reviews

Crawley Law Firm, PA

Customer Reviews

H Barnes

Awesome. Answered every question each time all the time. Be prepared when you walk into his office because they're already waiting to tackle your issues. Good staff too. This lawyer gets this thang done. Have your ducks in a row.. They will help you all the way.

Mr. and Mrs. Dowdy 08/19/2022

We want to personally thank Mr. Crawley and his staff for everything. We want the whole office know we appreciate each of you for being kind and having patience with us throughout the process.

C. Henley

I have been struggling with coming to this decision to file bankruptcy, but you have made me feel comfortable through this process! Thank you for being so great with clients! You are a rockstar in my book! This is terrifying but you all have made it better! Thank you for all your help!!

Terri B. 01/20/22

Google
I would definitely recommend Crawley Law Firm. They were informative and very patient all the way through. I could always call with any other questions. Juliana was great! Michael and all of his staff were very professional and understanding all the way!

Robert N. 01/17/22

Google
Very responsive very respectful, and competitive on price. Always answered my questions with honor. Thanks Crawley team.

Sherry S. 01/12/22

Awe ty for always making me feel better. You are good people and I can't tell you how every single thing u have ever said or done u and ur hubs has helped us in some way. And this bankruptcy stuff is serious and ya'll take such good care of us and we appreciate you!

Brandy T. 12/23/21

Thank u so much y'all are so pleasant and beautiful people to work with.

Tonya D. 12/27/21

Google
Mr Crawley and all of his staff were extremely nice, truly caring and always there to help. I am very fortunate to have been able to work with all of them. Anytime you have a question all you have to do is call or email. They would ALWAYS get right back with you. If you need a GREAT attorney....Definitely give them a call!!!

Tonya.

Update: 12/27/2021

These people are awesome to work with. They don't just take care of you at the beginning and leave you to deal with stuff and you be lost. They are with you every step of the way. Even after it is all said and done they are a phone call, text or email away. You have multiple ways to stay in contact and they make you very comfortable asking any questions you may have. I highly recommend Mr Crawley and all of his staff. They are amazing. They are the best so please give them a call. I did and they also give you information to help you rebuild your credit. So they go above and beyond for sure. Happy New Year's and be sure you pick the right one when needed.

Arnold B. 11/04/21

They treat you like your someone; with understanding and caring ,really good folks i trust them you can too

Tonya D. 10/29/21

Google
Mr Crawley and all of his staff were extremely nice, truly caring and always there to help. I am very fortunate to have been able to work with all of them. Anytime you have a question all you have to do is call or email. They would ALWAYS get right back with you. If you need a GREAT attorney....Definitely give them a call!!!
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