Life After Bankruptcy
Chicago Bankruptcy Attorney
Filing for bankruptcy is the biggest financial decision you can make. If you filed and discharged your debt, you may wonder what is waiting for you. What will you face in life after bankruptcy? While this may depend on whether you filed under Chapter 7 or Chapter 13 (or Chapter 11 for your business), a Chicago bankruptcy attorney can help you understand exactly what may occur and what you can do to begin rebuilding your credit and your financial security.
Call Trifonova Law, P.C. at (877) 544-3394 to learn more!
Helpful Tips to Follow After Bankruptcy
Our Chicago bankruptcy attorney can offer the following tips in approaching your life after bankruptcy:
- Create a budget and stick to it. Now is the time to consider where you can cut back. You may have already had to adjust your lifestyle when you filed for bankruptcy, so keep it up. Create a budget and stick to it. Live within your means and you can avoid accumulating overwhelming debt again.
- Pay all of your bills on time. Be careful and pay all of your bills on time. This will help you begin rebuilding your credit, as late payments will reduce your credit score even further.
- Set up a savings account. Set up an account where you can save money for any future emergencies. This cushion can make all the difference in a medical emergency, if you lose your job, or if any other unforeseen situation arises.
- Get a credit card and pay it off every month. This is one of the most difficult parts of life after bankruptcy. Perhaps credit card debt got you in a tough financial situation in the first place, but this is how you will need to rebuild your credit. Get a credit card and pay it off every month. Be smart about this card and only charge what you can pay off at the end of the billing cycle.
- Check your credit reports regularly. Staying on top of your credit report can help you see what progress you are making in rebuilding your credit, and it can help you notice any red flags and correct them.
Life after bankruptcy may be brighter than you think. Contact a Chicago bankruptcy lawyer today at (877) 544-3394 to discuss your financial situation and options.