The first thing you have to do when it’s time to restore your credit after bankruptcy is to access your credit. Pull your report and get a good understanding of where you are and where you want to go. What do I mean by that?
Step One: Pull Your Credit Report
(Caution: This will include your credit score).
This won’t be in your top 10 list of best moments throughout the course of your life. In fact, be prepared to have an unpleasant moment. The first time you pull your credit report after receiving your bankruptcy discharge, you will see that your credit score has dropped. Make every attempt to limit your frustration about the lower number to a moment or two. Then take a deep breath and move on – to the positive side of things. This new, lower number is just your post-bankruptcy starting point. Now you’ll get to watch as it gradually improves throughout the coming months/years. Make your goal a credit score of 720. This is attainable, but you’ll need to constantly remind yourself of your goal. Look at it this way – your score is probably the lowest (or close to the lowest) that it’s ever been. There’s nowhere to go, but up!
When requesting your credit report, access it from the three different credit reporting agencies so that you have the full picture to work with: Experian, Equifax, and Trans Union. You will need to put in the time and effort to clean up your credit report with all three credit bureaus.
The most commonly used report is Experian, but you still need to focus on all three to truly restore your credit and hit your goal of 720. You want your credit to be as clean as possible with all three credit-reporting agencies. To gain access to this information use a comprehensive site such as www.myfico.com. This type of site will provide the most accurate score from all three major credit-reporting bureaus.