Life After Bankruptcy
Posted on Jun 7, 2018 5:07pm PDT
It’s understandable to be scared about filing for bankruptcy. However,
despite rampant misinformation and unfortunate implications, your life
circumstances really won’t change aside from your debts being cleared.
In fact, for many people, life after bankruptcy is the start of a new
life chapter based on a strong financial foundation.
Your Credit
It’s true your credit score has seen better days, but bankruptcy
is your first step in reestablishing good credit. In fact, bankruptcy
will give you the opportunity to rebuild your financial foundations and
learn better spending habits.
You’ll likely receive many “helpful” low-balance credit
card prospects following your bankruptcy. Don’t be misled by credit
card schemes or you’ll quickly find yourself back in debt. You can
reestablish your credit with a reputable company or, preferably, with
a secured credit card. A secured credit card allows you to decide your
credit limit based on how much money you put into it. Also, avoid credit
card repair agencies that make money by charging you on-going fees. You
are perfectly capable of handling and improving your credit score without
their assistance!
Plan Ahead
The best way to start your new life post-bankruptcy is to start planning
ahead. A good habit to develop is monitoring and reviewing your finances
weekly. This will allow you to keep track of what you’re buying
and locate areas where you can trim down the spending. After all, the
best way to accumulate money is to save it! If you open a savings account
and put a little bit of money away each week, it will improve not only
your financial situation, but also your overall confidence. As your savings
account grows, this money can be used for emergencies or your retirement.
Rely on Your Attorney
You don’t have to struggle alone.
Your bankruptcy attorney is available to offer advice and guidance about your legal and financial options, and
even how to best rebuild your credit. If you are planning to file for
bankruptcy or have questions about what to do following your bankruptcy, contact Arnold Law Group, APC. Our lawyers have 30+ years of experience in assisting our clients with
strategies for achieving financial freedom after bankruptcy.
Contact Arnold Law Group, APC at {559-900-1263} to schedule a consultation.