Why Improve Credit Rating After Bankruptcy?
The first question that I’ll answer is what is the motive behind rebuilding your credit after bankruptcy? The reasons to improve credit score quickly is two-fold. Firstly, a bankruptcy hammers your credit score which reduces your chances of availing credit in the future. Hence, unless you bring your credit score up to an acceptable level, the chances of you getting the credit you need to rebuild your life are quite low. Secondly, it is well-known that people with a better credit rating can get a loan at a lower interest rate than those with a bad credit rating. Hence when you improve your credit rating, not only do you become eligible for a loan again, but you can get it at a lower interest rate as well. Improve Credit Rating After Bankruptcy So how to improve credit score after bankruptcy? It may be pertinent to understand what are the factors that determine your FICO credit score and what is their individual weightage before learning how to improve credit rating. Here are the factors
