Most people are aware of the things they should do after a bankruptcy to try and begin again with a fresh start and a new outlook on their financial future. For many, the main thought is to try and avoid purchasing anything on credit and mainly live on cash alone.
While this philosophy will allow you to avoid the credit monster that led you into bankruptcy in the first place, it will not allow you to re-build your credit for when you really need it or when it becomes absolutely necessary to use it positively. Re-building your credit is a very important step in reaching financial security for the future. There are however some things you should avoid when beginning to rebuild your credit score. Number one is to avoid seeking credit un-necessarily.
Many people fail to realize that even the act of applying for credit can negatively affect your credit score; even if you are turned down, the fact you applied is added to your credit report and will drop your important score by a few points each and every time. Be very selective in what you apply for to avoid this calamity. If you have a credit card that you have successfully paid off over the course of the re-payment plan do not close it right away. Make small purchases that you know you can re-pay and that will help to re-build your credit faster and faster.
It goes without saying that you should avoid at all costs missing any bill or credit payments during the credit re-building phase. If still in doubt about anything bankruptcy related be sure to speak to an experience bankruptcy attorney in Dayton, OH at the earliest date possible.