Life After Bankruptcy

Once your bankruptcy case is over, you will have a fresh financial start, but you will also face some new challenges. Despite the challenges ahead, it’s important that you begin to stabilize your life to ensure that you do not fall into the same financial hardships you just escaped. It’s not easy, but it is possible to regain control of your life following bankruptcy. Here are a few ways to do so:

• Stay Positive – Going through bankruptcy can be extremely trying, but it’s important to stay positive and let go of the guilt and shame. Instead of succumbing to a steady stream of negative emotions about your bankruptcy, resolve to make peace with the past by letting it go. Root yourself in the things that really matter, such as your friends and family. A positive attitude will be extremely important as you move forward with your life after bankruptcy.

• Establish a Budget – Following bankruptcy, you must become extra vigilant about your finances. By creating a realistic budget, you will be better suited to manage your finances and, hopefully avoid racking up any more unnecessary debt. Once your budget is established, consider moving any extra cash to savings so you will be prepared for unexpected events that may otherwise derail your budget. It isn’t always easy to live within your means, but doing so is crucial if you want to regain control of your financial independence.

• Rebuild Credit – Your credit rating is used for everything from auto loans to housing applications. As such, it’s important that you begin to repair the damage to your credit rating as a result of filing bankruptcy. It isn’t easy, but rebuilding credit after bankruptcy is possible. One of the easiest ways to begin rebuilding your credit is to obtain a secured credit card. By keeping your new credit card paid off, you can gradually rebuild your credit.

The experienced bankruptcy attorneys here at Cutler & Associates, Ltd are committed to helping you regain your financial independence, which means being there for you well after your case is over.