Financial troubles are all too common in today’s society, and many of these woes stem from improper use or abuse of credit cards. When dealing with foreclosure and the often-tumultuous aftermath of the proceedings, a person often needs to rebuild his/her credit in order to move toward a better financial future. Luckily, there are a few other ways that can allow a person to successfully build up credit without owning a credit card.
One alternative can be to build credit with a car loan. When you make punctual payments, the record of those payments will be reported to the three major credit bureaus. This will allow you to build credit continuously, as long as your payments are made on time and for the proper amount.
Another way to build credit can be through a person’s student loan payments. Student loans are easily obtained even by those who have either a limited credit history, or a poor credit score from previous financial occurrences. Student debt is usually long term, so it provides the perfect opportunity for an individual to prove responsibility and to maintain a good reputation for discharging financial obligations.
If you have had foreclosure troubles and are looking to build up your credit, you are certainly not alone. Consulting with an experienced Miami foreclosure attorney will allow you to take the proper steps in dealing with the foreclosure process, and also move forward in the most efficient way possible, which will ultimately lead to a more stable financial future. Graham Legal would like to extend an invitation to help. Schedule an initial consultation with an experienced Miami foreclosure attorney and let us get further acquainted with your situation today.