Financing 101 - Dos and Don"ts #12 - The Comeback
You need to first make sure you are making enough money to support yourself and your family with a place to live and covering the bills.
A budget will really help you because you will be able to save a lot of money on your monthly expenses.
You can either cut back on your bills like utilities, cell phone, telephone, television, internet, car and health insurance, or get rid of some.
Next you will need to try and fix your credit score.
It may not make a lot of sense to try and fix your score, especially after you have gone through foreclosure but your score is very important for your ability to make a financial comeback.
Your score can help you rebound from a foreclosure in many ways.
First, many people who have to file for foreclosure usually have severe credit card debt.
A cheaper score will allow you to pay less interest every month making your bills cheaper or giving you the chance to pay off the debt sooner.
Second you will have an advantage as you hunt for a better paying job.
Many companies now run a credit check when you apply for a job because they want to see how financially responsible you are.
While many people feel your score should have no reflection on what type of employee you are, it still is something you need to think about.
If you are worried that your number will be too low you can use a credit repair company to fix it.
Credit repair can fix any score no matter the reason it was lowered including foreclosure, and it can do it in weeks.