Ways to Improve Your Credit Score

A new client came into Matthew C. Mullhofer Attorney’s office with questions in regards to improving her credit score. She divorced in 2004 and had to file for bankruptcy, and the case became final in 2005. Her credit score was in the mid 600’s and she wanted advice as to how to improve her score. She explained that currently she had no debt and she always pays her bills on time.

Matthew C. Mullhofer Attorney advised this client to request a free copy of all three credit reports from annualcreditreport.com and review her credit score to make sure all entries were correct, including the bankruptcy.

Mr. Mullhofer let her know that according to the Fair Credit Reporting Act you can dispute inaccurate and incorrect information. If the creditors do not respond to the disputed item within 30 days, it will be removed from the credit report. This also includes public records that would have the bankruptcy listed.

Matthew C. Mullhofer Attorney let her know that she was on the right track, but she needed to have active revolving and installment credit being reported on her credit report in order to help her credit score. He advised her not to obtain a huge amount of debt, and that she didntt need to keep balances on her credit cards in order to improve her credit score. To pay her payments in full every month, and this should help her build her credit.

One last thing Mr. Mullhofer advised his client was to make sure to keep balances below 30 percent of the credit limit on any credit card.

Please feel free to contact Matthew Mullhofer Attorney at (877) 246-2770, to discuss any financial questions you may have.