How to Rebuild After Bankruptcy: Part 5
What Matters Most?
Installment Loans Let’s say you’re in the market for a good used car. Even if you’re able to pay for that car in cash, your credit score will be better off if you get a small car loan instead. Even a $10,000 loan can make a big difference in your credit score once you’ve been making the payments for a few months. Home Loan It’s not mandatory to have a home loan in order to get good credit, but if you are ready to buy a new house, this loan can really boost your credit score — provided you can make the payments each month. None of this is to say you should go out right now and start opening credit cards or get car loans just to boost your credit score. Getting a car you don’t need and using a loan with a high interest rate that you can’t afford will only cause you more stress and ultimately damage your credit score. Only finance something because you need it, and shop around to make sure you’re getting a good deal.
Over the last few months, we’ve been looking at strategies to help rebuild a bad credit score after filing for bankruptcy and construct the foundation for good credit. Once you’ve reached a decent credit score — something in the low 600s — you can shift to focusing on turning it into a great credit score. This means you have to get back in the game and open lines of credit. That said, there are specific lines of credit that will boost the credit score algorithm more than other types. Major Credit Cards Your Macy’s store card or Chevron credit card aren’t going to make a huge difference to your credit score. If you want to see improvement, you need to apply for major credit cards like Visa, MasterCard, or American Express. Ideally, you should have 3–5 different major credit cards. Then, you need to use them. Now, don’t start running up charges you can’t pay off. That’s how you end up in another mess with bad credit. Keep your spending under 20 percent of the credit card limit. As we’ve mentioned in the past, this ratio will also help improve your credit score.
No. 1 Dad Hash Browns
Word Search
June Word Search
Creating golden, crisp, and delicious hash browns at home requires a little diligence and elbow grease, but that’s exactly what Dad deserves to start his special day.
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W I I M R V E F D Y W A Q H J G T M T R L A P N H M Z C N J A U H B A P K Z P U T A N H E S P R X S C X B J V S U M E D G O D K J V A U Y A L P S X I O V J B Y L N V T T N T M A S P O D B Q E E O H R U P H O T N M N N Z H H S D M F T O E U F L C U Y C B N E D V Q Q P O F K T D B W S J G V M N C A E B S M W A Y L G G G C B V X Y C D U D G U X F D X K D H Y A I Q G M I A G T R A V E L E H
Ingredients:
• 1 stick (1/2 cup) unsalted butter, or 6 tbsp ghee 3 russet potatoes (about 1/2 lb.), peeled 1 tsp Kosher salt, plus more to taste Freshly ground black pepper, to taste Pinch of cayenne pepper, plus more to taste Directions: 1. In a small saucepan, heat butter over medium heat until foamy. Reduce heat if needed to avoid browning. Skim off white milk solids to make clarified butter (ghee). Transfer to a bowl and reserve. (This step won’t be needed if using ghee.) 2. Using the large holes on a box grater, grate potatoes. Transfer to a large bowl of cold water and stir until water becomes cloudy. Rinse • • • •
potatoes under cold water, then squeeze out liquid using cheesecloth or a kitchen towel, removing as much moisture as possible. Season potatoes. 3. In a large nonstick skillet, heat ghee to medium-high. Add potatoes and cook until a crust forms underneath, about 5 minutes. Using a rubber spatula, break up potatoes and continue to cook, adding more ghee if potatoes begin to stick. 4. Cook until golden brown and crisp, about 8 minutes. Drain on paper towels; season with salt, pepper, and cayenne to taste. Serve.
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SUN VACATION
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