After you’ve received your bankruptcy discharge, you will
most likely be feeling a huge sense of relief. Although you have overcome a big
hurdle, you may be wondering, “What do I do next?” Here are a few tips for
regaining financial stability in your life after bankruptcy.
Obtain Your Credit Report
Obtaining a copy of your credit report will allow you to
identify—and dispute, if necessary—incorrectly reported information and ensure
that your discharged debts are reflecting a zero balance on those accounts. As
time goes by, check your credit report yearly.
Create a Monthly Budget
Knowing how much money you have every month can
significantly reduce the stress you may feel following your bankruptcy. Total up
all of your income, and then compare this amount to your monthly expenses. Cut
back where you need to and save what you can. Your bankruptcy attorney can help
you create a realistic budget that you’ll be able to stick to.
Start To Rebuild Your
Credit
After a bankruptcy filing, it’s time to rebuild your credit
and improve your credit score.
Pay your bills—the best way you can work toward better
credit is by paying all of your bills on time. Start here.
Use a credit card cautiously—a credit card may help you
begin re-establishing good credit. Many credit card offers sent to people
post-bankruptcy are usually accompanied by high annual fees and interest rates.
If you can find a card without an annual fee, using it regularly and paying it
off promptly can be a step to a better credit score. Another excellent option
is a secured credit card, where you deposit an amount of money that serves as
your line of credit.
To speak with our skilled bankruptcy attorneys and put your
financial future on a fast track, contact King and King for a free consultation
at 404-524-6400 or visit us online at www.kingandkingattorneys.com
