Wrapping up our three-part blog Boost Your Credit Score with These 6 Steps, here, we will focus our discussion on two final steps that borrowers can take as they concentrate on improving their credit score and their overall financial standing.
Using cash or a debit card instead of credit cards can help you spend less, keep your credit card balances low and ultimately improve your credit score.
If your debt issues are more significant than having a poor credit score and you are considering filing for bankruptcy to achieve a financial fresh start, it’s time to call Colorado Bankruptcy Lawyer Jon B. Clarke to learn more about your options.
In addition to paying down debt, correcting errors on your credit report and closing down some of your open lines of credit (as discussed in the first two parts of this blog), you can also take the following steps to boost your credit score:
- Use your credit cards less – If you rely on your credit cards to pay for all of your day-to-day expenses, it may be time to start charging less to these cards and, instead, use cash (or your debit card) to pay for some of these purchases. For example, consider only using your credit cards for specific purchases like, for instance, your weekly gas or grocery bills, and use cash (or a debit card) for all other purchases.
While using your credit cards less will obviously mean that you will likely carry lower balances on these cards (which can also be beneficial if you are working on paying off these balances), it can also help you to spend less in general (as research has shown that people tend to spend less money when they use cash to make purchases).
- Avoid hard credit checks when possible – Hard credit checks will impact your credit score, and these are usually run when you are applying for loans or new lines of credit (they can be run in other cases as well).
If there is a possibility that a creditor or another entity will run a hard credit check on your credit, make sure to ask about this and see if there are other options available that won’t impact your credit score.
Colorado Bankruptcy Lawyers at the Law Office of Jon B. Clarke, P.C.
If you are overwhelmed by seemingly insurmountable debt and are looking for a financial fresh start, contact the trusted Colorado debt relief and bankruptcy lawyers at the Law Office of Jon B. Clarke, P.C. For more than 35 years, Mr. Clarke and his diligent support staff have been successfully helping our clients resolve even the most complex bankruptcy cases for both individuals and businesses alike. Our experienced legal professionals are committed to providing each of our Clients with the personalized debt relief assistance they need, and we will work tirelessly to ensure that our Clients’ cases are resolved as favorably and efficiently as possible.
For a thorough assessment of your situation, along with expert advice regarding the best manner in which to move forward to unburden yourself from debt, call us at (866) 916-3950 or email us some details about your situation by clicking here.
