Six ways to improve your credit score real quick

credit score real quick

If you find that your credit card and loans are not getting approved then you need to make sure that you improve your credit score if the reason for rejection is a low credit score. Credit score is the first thing that is checked when a financial institution approves a loan for a new car, land, new home or even a personal loan. In case you want to improve your credit score, it is not going to happen overnight. Improving the credit score is a long process which involves a lot of smart work from your end. Experienced Bankruptcy and Debt Relief Lawyer Mr. Brian Linnekens share some important tips which will help you to improve your credit score quickly and start afresh in terms of your credit health.

credit score

Study your dispute errors–

When you start working to improve your credit score, your first step is to study your dispute credit errors. You need to ask for a copy of your credit report from credit bureaus, be sure to look it over for errors. After knowing your credit errors you need to clear them. Seek help from professionals who will work with you on your dispute and help you correct the errors on your credit report.
Credit score generally look like this:

  • Excellent Credit Score – 750+
  • Good Credit Score – 700-749
  • Fair Credit Score – 650-699
  • Poor Credit Score – 600-649
  • Bad Credit Score – below 600

Don’t close your old credit accounts –

It is important to know, don’t close your old credit accounts even if you don’t use them anymore. If you already have credit cards, it will help you to improve your credit score. Try to pay your debts so that your score can be improved.

Get a new credit card

Get a new credit card –

If you want an improvement in your credit score try and get a new credit card. After getting a new card, if you are planning for a major purchase with your card go for it however make sure that you pay your bills on time. If you pay your bills and loan timely it will help you to increase your credit score.

Don’t make old mistakes and pay bills on time –

Do not make the same mistakes when you start new. Try not to be days past due the due date of clearing your credit card, loan or mortgage installment. Your small mistakes can damage your credit and hurt your credit score. So it is important to pay your loans and bills timely.

Contact an experienced Debt Relief Lawyer –

If you’re trying everything to improve your credit score but you still are not able to improve and you don’t know the way to improve your credit score then you need to consider consulting an experienced debt relief lawyer. A debt relief lawyer will provide you the best advice which is will help you improve your credit score.

Make a plan to improve your credit score

Make a plan to improve your credit score –

Planning to do anything is pertinent. You need to plan to improve your credit score. To improve your credit score make a plan, ideally after consulting your debt relief attorney. Your pan needs to involve paying your debts and not closing your unused credit cards because this is a quick fix strategy to improve your credit score.

Article Resource – http://www.brianlinnekens.net/six-ways-to-improve-your-credit-score-real-quick/

Advertisements

Six things not to do when filing for Bankruptcy

Bankruptcy is a tough time for the person undergoing bankruptcy. When you are filing a bankruptcy case, it will help you eliminate debts and start fresh. Filing bankruptcy is not easy and should not be taken lightly. Before proceeding you need to know everything about bankruptcy. You need to be aware of what you need to do and what you should not to do when you are applying for bankruptcy. An experienced bankruptcy lawyer like Brian Linnekens shares six things you need not do when you are filing for bankruptcy. Always avoid mistakes which might create problems in your bankruptcy.

Bankruptcy

Don’t abuse your creditors

When you are filing for bankruptcy and creditors are calling you in spite of you having filed for bankruptcy do not message back on your creditors message in anger or frustration. It is important not to say anything wrong and not to be abusive with your creditors. These types of mistakes might create problem for you in your bankruptcy case. Don’t try to communicate directly with your creditors, always ask your bankruptcy lawyer to give you the best advice; advice that is always perfect for your situation.

Avoid moving assets

It is important when filing bankruptcy to avoid moving assets, transferring, selling or even hiding them. Don’t try to move assets because if the court knows you are trying to it will amount to a fraud, your case may be dismissed altogether. You need to talk to your attorney about your assets that you might be considering to transfer. The bankruptcy attorney will help protect your assets.

Don’t giving any false information

This is really most important thing, don’t give any wrong information about your property and assets when filing necessary paperwork. Always share correct information with your lawyer so that he/she can fight for you. If you don’t complete all information correctly and honestly there are chances that the bankruptcy court might dismiss your case.

Don’t make any large purchase

Don’t purchase anything new with your credit cards. When you know you can’t pay your credit and loan. Avoid this type of mistake because it can create more problems. In general bankruptcy rules if you are purchasing luxury items during the 70 to 90 days before filing bankruptcy then it is considered as fraud. Only use credit card to purchase items which are considered as necessities.

Avoid failing to file income taxes

When you are filing a bankruptcy, remember your taxes should be up to date. If you want your bankruptcy to go fine remember that filing taxes is pertinent. Before filing bankruptcy you need to check your income tax returns. It should be filed properly because without your returns and completing paperwork it will be next-to-impossible to consider your bankruptcy application for the court and this might stop your bankruptcy in its tracks.

Don’t hire an inexperienced bankruptcy lawyer

This is the biggest mistake many people make. Sometimes people just to save money tend to hire a lawyer with low fee However one should understand that every lawyer with a low fee might not be able to present you case properly to the bankruptcy court. When you are hiring a lawyer for your bankruptcy case, the lawyer should be local, experienced, professional, honest and well reputed. If you are hiring an experienced bankruptcy lawyer, there are more and more chance to get a good deal.

Article Resource – http://www.brianlinnekens.net/six-things-not-to-do-when-filing-for-bankruptcy/

Useful tips from Brian Linnekens to protect yourself during Bankruptcy

Bankruptcy

When you are struggling from financial crisis and not able to pay your debts, then filing for bankruptcy is the best solution of your problem. According to Brian Linnekens, It is a serious issue, you need to have a fresh look at it once, before filling and make proper plans in order to get rid of the problem.

Bankruptcy will help us to clear credit cards bills and other unsecured bills excluding student loans and overdue taxes. For such issues the financial plan created as a part of bankruptcy will helps you.

Before filing for bankruptcy you need to understand well which areas they are covering and which are not covered. A bankruptcy attorney will give suggestions that you need to take for your bankruptcy case. Along with his/her suggestion you need to do a few other things proactively.

Create a new bank account

The very first thing you need to do is to open a new bank account. It is essential even if you file for chapter 7 and take automatic stay against collections, some creditor banks and credit unions are legally allowed to take their debts against funds you own.

To protect yourself from these situations you need to open a new account in a bank or any other financial institution from where you had not taken any credits or loans previously. Transfer your direct funds or any other funds that you have in this account.

Stop all automatic payments

Once you decide to file for the bankruptcy the next thing you need to do is to stop your auto debit payments as soon as possible. By doing this you will save yourself from penalties and other fees that is linked with failed transaction. You should use your new account for making payments of car loan, cell phone or other utilities. These small things will help you a lot during bankruptcy.

Cut up your Plastics

The key concept of bankruptcy is to give you the chance to get rid from debt that you can’t pay due to some reasons. Using credit card just prior to filing for bankruptcy is a questionable thing and on this basis a card provider can accuse you for fraudulent activity. So once you decided to file for bankruptcy you should avoid using credit card.

Create a workable budget

You need to create a workable budget so that you are able to repay your debts only then bankruptcy will work for you. According to chapter 13, all the plans for the repayment of debts are set according to the ability of your paying. After some time it is set according to your disposable income.

When you file for the bankruptcy you need to follow certain set of rules and a good attorney will help you in doing this. You need to appear in front of bankruptcy trustee with your attorney for a few questions that you need to answer. A court will issue a Notice of Commencement for the case, which decides the date and time of meeting with the creditors in order to take the clarifications.

During bankruptcy proceedings you need to go through several issues – creditors can make objection on your claim, a trustee may disapprove your case as the required paper work is not complete or even due to late submission.

The case is not over even after your bankruptcy plan is set. You need to make various kinds of communication even after that. When you get mail from your attorney, creditors or trustee; you need read it carefully and respond to it accordingly.

In bankruptcy you need proper guidance and a constant communication with your bankruptcy attorney will protect you during the bankruptcy.

Article Resource – http://www.brianlinnekens.com/2018/04/02/useful-tips-from-brian-linnekens-to-protect-yourself-during-bankruptcy/

Five Reasons to go for Loan Modification Instead of Filing for Bankruptcy

Those people who are unable to pay back their debts and want to stay in their home they should go for loan modification. Loan modification is a simple way that gives you a chance for the debtors to pay back their debt. Actually loan modification can be very useful for debtors if the borrower is truly having a short-term hardship. In the loan modification your debt can be changed to a more affordable and reduce your monthly payment and interest rate. In simple words, the purpose for loan modification is to reduce debtor mortgage payments and make the payments affordable.  Here Brian Linnekens a bankruptcy lawyer shares five reasons why you need to go for loan modification instead of filing for bankruptcy.

 

Reduces interest rate

One of the biggest benefits for loan modification is – a creditor will agree to reduce the interest rate for debtor mortgage but if you have a modification with a step rate feature, the initial modified interest rate is temporary it means it is usually fixed for 5 years after completing 5 years your interest rate begins to adjust automatically. This process is called rate cap. One important thing to remember is if your loan modification is about five years then your monthly payment and interest may be changing soon. If you still have a concern about anything then you need to call your mortgage company.

Protect your home

Loan modification is the best way for people to use who are not able to pay back their debt and want to keep their homes. Actually, those people may be thinking of filing a bankruptcy they believe that they might not get to keep their homes, and the unfortunate truth is that the entire process will only allow them to stay a little bit longer. However loan modification is a permanent solution for this problem. It will make your current financial situation easier because with the loan modification you can keep your residence by designing a lower monthly payment.

Reduce Principle

Principle reduction is a big benefit of loan modification. According to this the creditor will reduce the amount of principal that the borrower owes, with no expectation of a repayment. It is a very effective way to reduce payments than lowering the interest rate on the mortgage, or extending the term.

Impact for the credit report and financial history

If you file bankruptcy you can get relief from all outstanding obligations but the mark of bankruptcy is going to exist for seven to ten years. It is very difficult to get new loans and apply for credit in future with a bankruptcy mark on your credit report. However, loan modification builds a foundation for the consumer to rebuild their financial picture once again.

 

Makes you Debt Free

Loan modification will help you become debt free from the mortgage or other loans you owe. And the best thing is that this process is not recorded as a foreclosure or bankruptcy and banks will not harass you for the difference between the selling price of your home to pay off the mortgage in part and the total amount of the debt in exchange of a clean slate.

Some important things to remember before filing bankruptcy

Filing Bankruptcy is not an easy process. However, bankruptcy is a necessary option for debtors who are not able to pay back their debt and want some time or a plan to pay back their debts. By filing bankruptcy, they can pay back their debt within three to five years. If your financial condition is very bad and you think bankruptcy is the best solution for your problems then Brian Linnekens shares some important things that are important to know before filing bankruptcy.

Show all your sources for income and all your Assets

On your bankruptcy form, you need to show all your sources for income and you need to declare all your assets because if you do not show all your income sources then you are may lose your authority to a discharge of your debt and criminal charges may also be filed and a fine may also be imposed on you. Apart from that, the court should have all the data about your assets, income, and expenses with it to ensure an amicable plan for you to pay off your debt in the coming years.

Avoid using your credit card continuously

Stop your credit card use because if you use your credit card it may create a few problems. The use of credit card will accumulate more debt on you, which will further create a doubt in the mind of the authorities processing your bankruptcy proceedings that you never ever intended to pay off your debts since you are accumulating more of it. Apart from that, steer clear of taking any cash advance on your credit card. While in the middle or even having decided to file for bankruptcy do not accumulate any additional debts on yourself.

Need to know different chapter of bankruptcy

Before filing bankruptcy, you need to know different chapters of bankruptcy. Bankruptcy has many chapters such as chapter 7, 11, 12, 13. All chapters have different conditions and benefits for the debtors. That is why before filing bankruptcy you need to talk to a bankruptcy lawyer because he can give you the best suggestion according your situation.

Prepare yourself before filing for bankruptcy

You may need to prepare yourself because filing bankruptcy involves a lot of paperwork. It is also important for you to know that bankruptcy filing is public, so everyone can look up your financial information. In others words you will lose some financial control and privacy during this process. That is why you need to prepare yourself before filing bankruptcy so that you can easily face the situation.

Speak to an Experienced Bankruptcy Lawyer

Filing bankruptcy is not an easy process that is why before filing bankruptcy you need to talk to a bankruptcy lawyer.  To determine if you are speaking to an experienced bankruptcy lawyer, you need to ask many questions about their profession like how many cases he/she has handled in the past, how many others areas of the law practice. It is very important because an experienced bankruptcy lawyer gives your better suggestions and with the help of a bankruptcy lawyer, you can easily know about the bankruptcy law and decide what you want.

Brian Linnekens gives an insight on Different Types of Bankruptcy

Bankruptcy is a legal process that reduces debt and gives you a chance to reorganize your debts. According to Brain Linnekens by filing bankruptcy, you can easily overcome your bad financial situation. You can pay back your debt within 7-10 years with repayment plans. Bankruptcy has several types of chapters but in most cases, people file chapter 7 & 13 because these chapters are effective and easy to file.

When Chapter 7 Bankruptcy can be an option explains Brian Linnekens

Chapter 7 is very helpful for debtors who are not able to pay back their debt. It is very useful in those cases where majority of the debt is unsecured because in chapter 7 bankruptcy some of your property is sold to recover the debt one has incurred from creditors and in return your unsecured debt will be written off. Remember everyone does not file chapter 7 bankruptcy. In cases where the disposable income is enough to file a chapter 13-repayment plan after subtracting certain allowed expenses and monthly payments for certain debts you would not be allowed to use chapter 7 bankruptcy.

Chapter 9 Bankruptcy as explained by Brian Linnekens

Chapter 9 bankruptcy is designed for “municipalities.” The main purpose of chapter 9 is to safeguard a municipality from its creditors while it negotiates its debts. According to chapter 9 bankruptcy a creditor cannot take over the assets of the municipality from the municipality. Only a municipality can file for relief under chapter 9.

Chapter 11 Bankruptcy

Chapter 11 bankruptcy is very complicated and it used for those peoples who are struggling with their business and want to reorganize their finances. It is generally used only by those whose debts exceed chapter 13. In this process debtors continuously work and maintain owner ship of all assets and try to fulfill to pay off creditors. Chapter 11 is more expensive. Before filing chapter 11 you will need to talk to a bankruptcy lawyer like Brian Linnekens who will be able advice you professionally based on his experience and years of learning in the realm of Bankruptcy.

Chapter 12 Bankruptcy

Very few people use chapter 12 bankruptcies. It is specifically for farm owners. According this chapter the debtor maintains ownership of his assets and works out a repayment plan with the creditors. Similar to chapter 13, filing under chapter 12 bankruptcy you can pay back your debt within three to five years.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy is one of the most beneficial options for those people who are struggling with their debts. It is best for those debtors who are behind on secured debts such as home mortgages and car loans. Chapter 13 bankruptcy gives you a chance to keep all your assets and you can stop foreclosure with the repayment plan agreed upon in the Bankruptcy terms and conditions. According to the repayment plan, you can pay back your debt within three to five years. The time of three to five years can be increased by the bankruptcy process if you are not able to pay off your debt within three to five years. Since paying off the debt within a particular time period will depend on your present income. Chapter 13 will help you to reorganize and reduce your debt. It will also gives you a chance to create new plans to pay off your debts and gives you more time to fulfill your financial obligations.

Bankruptcy has provided us many options. If you are thinking of filing bankruptcy then you need to understand the various bankruptcy options and know which one is suitable for you. Before filing bankruptcy, you can talk to a bankruptcy lawyer since bankruptcy law is very complicated and with the help of an attorney you can easily know the difference between the various bankruptcy chapters. Filing for bankruptcy should be the last option. Before filing for bankruptcy you should check for other options like loan modification or loan settlement whichever is possible for you.

 

For more details about Brian Linnekens feel free to visit: http://www.brianlinnekens.com/2017/03/25/brian-linnekens-gives-an-insight-on-different-types-of-bankruptcy/

Brian Linnekens provides tips to improve credit score after bankruptcy

Individuals who file for bankruptcy in the court will definitely have to see a negative impact on their credit scores. If you recently filed for bankruptcy chapter7 and chapter 13 protections, it is very important for you to manage and improve your credit scores afterwards. Healing your credit scores will help you get your life back on track. According to Brian Linnekens there are several things you can do to start re-establishing your credit score after bankruptcy. Follow these expert tips and improve your credit scores in a very small period of time.

Brian Linnekens Advises to clear your credit reports of errors

One of the most important steps of managing your credit is to clear your credit reports of errors from TransUnion, Equifax, and Experian. Under the Fair Credit Reporting Act, It is your right to dispute inaccuracies. Ensure that your credit reports have correctly labeled your pre-bankruptcy debt as “included in BK”. If a debt you included in the bankruptcy is not being reported correctly, contact the credit bureau reporting the information to start a dispute and have the information corrected.

Brian Linnekens asks you to Track your finances and credit reports in a regular manner

After a bankruptcy, you must be extra vigilant about your finance and credit reports. Keep a regular eye on your finance and credit conservatively. Be cautious with spending. This is a high time when you essentially require making a budget for your expenditures. A definite budget or effective spending plan will help you to manage your cash flow. Have a budget with a line for saving, so you can deal with future emergencies and unexpected events easily. Stop racking up unnecessary debt. Keep your employment stable.

Brian Linnekens advises you to pay your current bills in a timely manner

After filing for bankruptcy in court you are required to make timely payment of your current bills and rents. Just for the reason that missed payment can hurt your credit score. Bankrupt’s payments are being tracked by the credit bureau Experian, so it is very important for a bankrupt to pay his bills in a timely manner. Repaying existing bills as agreed in court will be one of the single, most powerful things that a bankrupt can do to restore his finances and credits. It will positively affect his credit score and will help him to release his case shortly from court.

Brian Linnekens advises to apply for a new secured credit card

Give up on your unsecured credit cards and apply for a secured credit card. Secured cards are useful tools for rebuilding credit. Secured cards need a cash deposit and offer lower credit limit than unsecured cards. Take a close look at the interest rate and fees before committing to a secured card. Ensure you are keeping your spending in control and paying in full and on time each month. Doing this will help you get most benefit for your score.

Article Source: http://www.brianlinnekens.net/brian-linnekens-provides-tips-to-improve-credit-score-after-bankruptcy/