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For those with average credit or worse, it is easy to look at those who have excellent credit and think they have somehow lived a charmed life. But even those deemed as “high achievers” who have credit scores of 785 or higher can be less than perfect with their finances, and most are not debt free. Still for those who are facing bankruptcy in Miami, these super scores can seem like a pipe dream.

While a bankruptcy itself is usually damaging to a credit score initially, when those who have gone through bankruptcy manage to regroup and follow the example of those with very good credit it is possible to build good credit over time. This doesn’t mean not having debt, a third of “high achievers” carry a debt of at least $8,500. What makes the difference is use a low percentage of actual credit available. On average, this is 7%. But 96% of the time this same group manages to make every payment on time. They also use long standing accounts, and rarely open new ones.

Not everyone who consults with a bankruptcy attorney winds up filing for bankruptcy. Often a bankruptcy attorney can steer a person toward options such as debt consolidation or credit counseling in order for them to get a handle on their finances, regroup, and move on.

Whether you’ve struggled with your finances due to your own lack of good judgment, have faced unavoidable financial circumstance, or if your situation displays a bit of both these characteristics, it is possible to turn things around and gain better credit in the future. Often a consultation with a bankruptcy attorney can clarify your options and help you determine where to go next.

Source: New York Times, “Secrets of High Credit Scorers,” Ann Carrns, Nov. 6, 2012