Filing for bankruptcy is a major life change. If you have been through the process and come out the other side, congratulations! You’ve survived and now you have been given an opportunity for a fresh start. We know it might not always seem like a good thing – and we know it isn’t always easy. However, being offered a new beginning doesn’t come often, so now is the time to make the most of it.
One thing is certain: life on the other side of bankruptcy will look different than it did before. It will not come naturally at first. Here are some tips we can offer about how to adjust to life after bankruptcy:
Find a Steady Job. We know that this is easier said than done, but it is essential. Finding a steady job with a steady paycheck that you can commit to is the best way to show others you are taking your finances seriously. They can tell you are securing a way to have reliable income. No one is expecting you to be the CEO at Google right off the bat. They just are looking to see if you are working for a set paycheck and you are showing up for your shifts.
Make Payments On Time. Paying your bills on time is a great way to illustrate to lenders and those close to you that you are turning over a new leaf. Make sure you are organized and stay on top of due dates, because missing bills after bankruptcy looks even worse than it does before. If you want to stay in control of your life, stay on top of your bills.
Cut Corners Everywhere. Life after bankruptcy will feel like a major adjustment at first. Your lifestyle will likely be completely different than it was before. Take a hard look at your expenses and ask what you can really cut. Even if at first you can’t imagine living without it, challenge yourself to live life without some luxuries that you were used to before.
Don’t Rely on Credit. For the first few years after bankruptcy, your credit score will not be helpful to you. In terms of income, you need to adjust to not being able to rely on credit cards or loans to accomplish things. Eventually, there are ways to get access to them – perhaps through securing them or using a cosigner – but those measures should be to help build back your credit only after you are prepared to live without it completely.
Check Your Credit Score. Even if it’s bad – and it will be at first – track how it changes! See what happens as time goes on and you pay your bills on time. There are lots of options for free weekly credit checks that are available to you.
It won’t be easy at first, but it will be worth it in the end! We know that life after bankruptcy can still be fulfilling and exciting. If you are having issues with Bankruptcy, at any point in the process, contact Velazquez Consumer Law, LLC today. We provide solutions and shield you from surprises!
Velazquez Consumer Law
