Life After Bankruptcy

Life After Bankruptcy

In most cases, filing a bankruptcy can help your credit. When you file a bankruptcy, you start the credit building process all over again. Any of the negative items currently on your credit will no longer be able to hold you back. Within two to three years, you can have good credit again. 

5 Steps to Rebuilding Your Credit: 
Step 1.   File for bankruptcy. Call us today for a free, confidential consultation.
Step 2.  Wait 45 days after filing. Go to and pull your credit report. Ensure all your creditors are reporting                       your accounts in bankruptcy.
Step 3.  Following the closing of your bankruptcy case, borrow a small sum of money from a lender and pay if off on time.
Step 4.  After 24 months (two years) of repayment, your score is commonly between 650 to 700. (Scores range from 300 to 850 and                      are used to predict how likely you are to pay your bills on time. The higher the score the better off you are.) 
Step 5.  Check your credit report every year on
Your right to one (1) free credit report per year is mandated under the Fair and Accurate Credit Transaction Act of 2003. Unlike the credit report, information about your credit score is not free (but it is important). Your score can affect many things, including your ability to get loans, your insurance premiums, and even your employment. It's a good idea to pay the modest additional fee to get your score and ensure you have maintained a good rating. You can use your credit report to correct errors, identify fraud, and to safeguard against the threat of identity theft. 

Your Life After Bankruptcy

Start Saving

There are two keys to saving after filing bankruptcy: Save money any way you can, and do it regularly. The amount you save is much less important than the actual practice of saving (of course, the more you can save, the better), so get started as soon as possible. So, go to your local credit union or bank and open a savings account to practice saving until you have build a financial habit of saving to avoid having to file bankruptcy in the future.
Establish your budget | Aim for Short-Term Savings Goals | Make a Savings Plan | Use the 24-hour Rule 

Can I get a car after Bankruptcy?

YES. Buying a car can feel stressful enough, but when you have been through bankruptcy you feel downright terrified. No matter what the circumstances that led to your filing  you probably feel embarrassed and afraid that no one’s going to want to give you the time of day, much less a decent loan.  

More Information at

Buying a Home after Bankruptcy

Every one wants to achieve the American Dream of owning a home. Bouncing back from bankruptcy or foreclosure takes time. But that doesn’t mean you have to shelve your homebuying aspirations for some interminable stretch. The most common consumer-centric forms of bankruptcy are Chapter 7 and Chapter 13. The type you experienced will play a role in how soon you are eligible to purchase a home. 

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