People are often scared to file bankruptcy due to common misconceptions. They are worried that their credit will be destroyed forever and they will never be able to buy anything again. The truth is after you file bankruptcy you no longer have debt so creditors are ready and eager to give you some of that much desired credit. I want to give you some advice for what you should do after you get discharged from your bankruptcy.

  • Adopt a no-frills lifestyle. Don’t spend money unnecessarily. Cut back on the eating out and money you are spending at the grocery store. Make sure you are spending on things you need and not too much on things you just want. Live within your means.


  • Rebuild Good Credit. Rebuilding your credit is important. Creditors will give you credit when you get your discharge. Make sure you do on research on different credit companies. You may have to pay a fee, but find a card that reports to the credit bureau every month.


  • Pay All of your Bills on time. Make sure you are paying all of your bills. Paying your bill is an important way to show creditor that you are no longer a risk when it comes to credit.


  • Build up a saving account. Start to save money. Unfortunately unexpected things happen in our lives all the time. When something happens we need to be prepared to have money to cover those unexpected events.


  • Get a credit card and pay off every month. Paying off your credit cards right away helps raise your credit score and saves you money on all the high interest that you will have on those cards that you get. If you are using the whole amount of the card and only paying the minimum it can affect your credit negatively


  • Focus on the end result: Being free of debt. Remember why you filed bankruptcy in the first place. The thoughts of knowing that you did something to start off and become debt free can help motive you in to staying on the right track and continue your life of financial freedom.