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.


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Crawley Law Firm, PA

Customer Reviews

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

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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!!!

Jaren P.

Thank you all very much, we appreciate your hard work!

Chris H

Thank you!! I got a hold of the car creditor. I gave them the case number and they are sending it to their bankruptcy department and will be contacting you guys. They told me my car was out for repossession right now. I'm thankful that I did this today or else I'll be waking up with no car. Thank you, guys, for your help have a good weekend.

April W.

Thank you so much for helping me through this process. I already feel much better. This information is very helpful and I look forward to learning more.

Shannon H. 09/15/2021

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Awesome people to work with. If I could score them higher I would. Highly recommend them for your bankruptcy. Can't say not one bad thing about them. Love these people!!!!

Mark N 07/22/2021

Mr. Crawley works quickly and it is so appreciated. I’m just so thankful and blessed to have you guys in my corner.

Anna J. 6/01/2021

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Mr. Crawley and his staff always answer questions in ways you can understand. They get back to you quickly. They are all so nice and professional.

R Thomas 5/8/2021

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Excellent service. Even after completion of our service they were always readily available to answer questions and help even after the fact. Office service is superb.

Dean J. 2/23/2021

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I filed for bankruptcy with Crawley Law Firm, PA and they did an outstanding job of guiding me through the process. They were with me every step of the way.
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