REBUILDING CREDIT
STEPS TO TAKE AFTER BANKRUPTCY
One of the hardest hurdles to overcome after bankruptcy is reestablishing your credit. Building up a good score takes time and effort, but getting by in the interim can leave you extremely financially constrained. So, here are some best practices to revitalize your credit. Remain Current Before you worry about seeking out new loans, it’s best to focus on any existing ones. Keeping current with home and car loans post-bankruptcy can be a huge step in proving your financial solvency and building credit. Keep up with utility bills, reaffirmed prebankruptcy debts, and rent, as well. Once you can reliably meet all these financial obligations, it’s time to start making some additions. Open Accounts Something as simple as opening a checking or savings account may seem inconsequential, but it’s a key indicator that many lenders use to determine your financial responsibility. Applying for store and gas credit cards can be a great strategy as well. Using these for simple errands and paying them off in a timely manner is a great way to ensure you’re building credit. It’s also a good idea to apply for a secured credit card after filing for use on general purchases.
Check Their Homework No one would describe the likes of Equifax, Experian, and TransUnion as being perfect. Credit agencies are as prone to false assumptions and mistakes as any other organization, so it’s important to ensure they have the right numbers. Writing a letter to these organizations explaining the circumstances of your bankruptcy can help repair some of the damage. You should also regularly check your credit report to ensure it is accurate, and if not, see that they correct it. Like dieting and exercise, building healthy credit takes time and discipline, but it’s far from impossible. Bankruptcy can buy you the space you need to make this fresh start and set off down the road to having a truly great score.
SUDOKU
VEGAN BANANA PANCAKES
INGREDIENTS •
1 1/2 cups flour
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2 tbsp maple syrup
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2 1/2 tsp baking powder
2 tbsp coconut oil, melted
1/2 tsp salt
1 tsp vanilla extract
2 extra ripe bananas, mashed
Cooking spray
1 cup soy milk
DIRECTIONS 1. In a small bowl, combine flour, baking powder, and salt. 2. In a separate bowl, whisk bananas, soy milk, maple syrup, oil, and vanilla together. 3. Add dry ingredients to wet ingredients and stir. Don’t overmix. Lumps are okay. 4. Spray a heated pancake griddle with cooking spray, and scoop 1/4 cup of the mixture onto the griddle. Repeat until the griddle is filled. 5. After 3 minutes or when bubbles appear, flip each pancake. 6. After each pancake has risen to double its initial height, remove from griddle. Repeat as necessary until batter is gone. 7. Serve with your favorite toppings!
Inspired by My Darling Vegan
www.YoungMarrLaw.com | 3
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