Debt Settlement Services in Hawaii
Alternative Approach to Bankruptcy
End Creditor Harassment
720 Credit Score
Returning To A 720 Credit Score
One of the most difficult aspects of bankruptcy for some people is not the bankruptcy process itself, but rather what takes place afterward. Bankruptcy, as we always want to express, is not the great evil that it has been depicted as. It’s in reality a way for you to escape from the debt that plagues you. It’s your opportunity to repair your finances.
Of course, this does not come without cost. While you are given the opportunity to have almost all of your debts removed it is going to be something that takes a heavy hit on your credit score. Unfortunately, this is where a lot of the misunderstandings about bankruptcy come from.
Since bankruptcy usually makes credit score recovery more difficult there’s a thought process that when you file for bankruptcy you are never going to be able to financially recover from that. It leads to a fear of bankruptcy that causes people to wait too long to file.
The truth is that bankruptcy is absolutely something that you can recover from financially. The cartoonish pictures of people wearing barrels for clothing following bankruptcy aren’t real. Many of our clients have recovered from bankruptcy and went on to live very successful lives.
One of the first steps in doing this is helping your credit score recover from the after effects of bankruptcy. One of the best ways to do this is through our 720 Credit Score program. With our help, we can get your credit score up to a 720 within two years of bankruptcy.
Our 720 Credit Score program has many benefits including:
- Improved Credit Score
- Financial Wellness Lessons
- It’s FREE
Through Blake Goodman’s 720 Credit Score Program you can raise your credit score back to a level where you are no longer dealing with the pressures that post bankruptcy credit can cause.
What Kind Of Pressures?
The thing about credit is that it has a far larger role in your life than you may realize. Credit cards, car loans, rent, and mortgages are all directly impacted by your credit. Many of the places that provide services for these will do a credit background check on you when you apply for them.
These background checks consist of looking at your credit score and your credit report. When your credit is in poor standing you are going to have a more difficult time applying for loans or making largescale purchases.
That said, that doesn’t make it impossible, but it’s important to understand what kind of impct this will have on your life. You may struggle initially while you attempt to raise your credit score back up. The light at the end of the tunnel is going to be worth it, however.
There are some key differences between two major aspects of your credit. Your credit score is a snapshot in to your credit while a credit report is a large history of your credit.
Credit Report vs. Credit Score
When people let missed payments reach collection, have a house foreclosed on, or file for bankruptcy we always hear about how this is going to negatively affect their credit, but we never hear why.
Let us explain. Your credit score is a reflection of your credit report. It’s a brief snapshot of what your credit standing currently looks like. So if you have many missed payments on your credit report then more than likely you are going to have a low credit score. So when you have a bankruptcy on your credit report it is going to negatively impact your credit score.
Where confusion happens is how long that negative credit score is going to last. As we mentioned earlier, a credit score is a snapshot of your credit history. So if you have five years of excellent credit then you are going to have a good if not great credit score.
Your credit report meanwhile is going to have every missed payment, and your bankruptcy, on file for at least seven years. Once those seven years have passed it will no longer show up, but you can spend that time improving your credit score. Loaners are going to be more likely to give to someone that has proven they have improved their credit standing through hard work and smart money management.
Don’t let the idea of a low credit score scare you away from bankruptcy. If it’s the only option you have available to you then take it, because at Blake Goodman we can help you get your credit score back where it belongs. We have years of experience helping clients return from bankruptcy.
Our program is meant to do more than that though. When you go through it you will come out of it a changed person. Bankruptcy is merely the first step in changing your life for the better. Through our 2 year to 720 program you will learn how to be more financially and credit conscious. If you are ready to make these necessary changes to your life then give us a call at 808-528-4274. We look forward to speaking with you.
Not On This Island?
At Blake Goodman, we have offices in not just Oahu, but on Maui as well. We strive to serve the entirety of Hawaii to our best and full ability so there is nobody that is left out of the opportunity to pursue help in their life.
If you are in need of credit score assistance in Maui then check out the website for our Maui offices at DebtfreeMaui.com. We will continue to provide the best services possible to you no matter the location.