If you have gone through bankruptcy or are contemplating it, you are not alone. Millions of Americans are drowning in debt and struggling with the overwhelming task of how to rebuild their lives after bankruptcy. Things such as credit scores, finances, and emotional well-being seem to consume your thoughts. How can you move on? Where do you begin? The bankruptcy attorneys at Hines Law serving Worcester County and beyond are experienced and committed to doing what is best for your bankruptcy needs. There is life after bankruptcy!
The goal of bankruptcy is to provide debtors with a new beginning
Those who strategize properly and commit themselves to making the most of their second chance can avoid debt troubles as well as rebuild their credit. Here are a few tips to help you rebound from bankruptcy and shake the stigma of being a financial outcast. It all begins with your credit!
First, it’s wise to take a long, hard look at your spending habits and get better about your money. What derailed you in the first place? Once you figure out your budget shortcomings, make a change and actually create a budget you can stick to. Use cash when you can since you will probably only have small amounts of credit available to you. Also, be aware of what factors affect your credit score. Having knowledge of what can boost or drag it down are critical.
Pay your bills on time! This is probably the most critical aspect of rebuilding your credit. Paying your bills on time shows that you are responsible and serious about moving on. When it’s time for you to apply for credit, shop around for the best terms and rates and start slow. This means sticking with one credit card or small personal loan. Putting a limit will help you stay in control of your finances.
Furthermore, stay on top of your credit score. Assess your situation and check your credit report frequently. If you see errors or outdated information on your report it’s up to you to get them removed. This shows lenders that you are serious about rebuilding your credit.
Bankruptcy is a major setback, however, there is hope and it is possible to rebuild your future. Let the attorneys at our Bankruptcy Firm help you move on and gain control of your financial future. Call us for a consult today!