When you have to file bankruptcy in order to bring your debt under control,
it is hard to handle even for the stoutest of people. Unfortunately many people have no choice but to file simply to survive. It gives you a new start by writing off all of your old debt and forcing your creditors and bill collectors to stop harassing you. Yes, bankruptcy comes with a social stigma that is less important today than it was, but if it gives you the opportunity to get your life back on track then it is worth doing. Once your bankruptcy is discharged and you make a conscious effort to keep your debts to a minimum afterwards, you will be able to live a stress free and more productive life.
The biggest thing you will have to face after your bankruptcy petition has been discharged is getting your credit back into good shape. Bankruptcy also wipes your credit record
clean, leaving you with no credit at all. Having bad credit is better than having no credit and consequently it is harder to secure a line of credit for certain things. Other than items that have been marked as bankrupt, your credit record will have absolutely nothing on it. Now is the perfect time to start rebuilding your credit and making sure it is good credit right from the beginning.
Once your bankruptcy petition is approved and filed you should immediately request a copy of your credit record. This allows you the chance to see what is left on your credit record that was not part of your bankruptcy filing. You should go through it line by line to make sure that there are no faulty or incorrect entries on your credit record, and you will be able to fix the discrepancies that could be hampering your credit since the bankruptcy petition was filed. If there are things on your credit record that do not belong to you, then you are the victim of identity theft and you will need to dispute the items to get them removed from your credit report. You will also need to contact the lender that is listed on the credit report and let them know what is going on.
- Getting back on your feet after filing a successful bankruptcy petition is up to you. You will have to make all of your bills on time, and it doesn’t matter how many bills you actually have. They are now a priority, and when they come in the post you need to check the date and make it a point to have it paid when it is due. This will aid you in getting your credit back to a good level where you will be able to secure a line of credit for things such as a mortgage or car loan.
The final key to getting your life back after filing a successful bankruptcy is making sure that you manage your money properly. You never want to overlook any of your bills, and if you think it would help, take a class in money management where you can learn tricks and tips to manage your finances
the right way. While bankruptcy may not leave you with the things that you had before, it will leave you with a new lease on life and a chance to start over and manage your money the right way.