Rebuild Your Credit
in Five Steps

Bankruptcy can be overwhelming across the board, from your financial life and credit rating to your emotional health. You can begin life once again after bankruptcy and not feel you are in credit exile or a financial untouchable. Follow the steps below to start rebuilding your life into one that is rewarding.

Stop Feeling Guilty and Shameful

People have been struggling since the last economic recession and had to file for bankruptcy protection. Feeling ashamed or guilty does not improve the situation. If anything, the negative emotions may continue to prevent you from moving forward.

Regroup

Some time for reflection and soul searching is needed to reach a better emotional place. Think back upon how things happened and what could have been done differently. Building a support system of positive people helps overcome obstacles.

Budget and Paying Bills on Time

Keep with your new spending plan to manage cash flow and avoid debt. Pay bills on time to boost your credit score.

Get a Secured Credit Card

Having a secured credit card helps to rebuild credit, especially when the card provider reports your payment history to credit bureaus. Avoid cards with high fees.

Know What Is Possible

It is still possible to obtain a mortgage or credit card offers despite bankruptcy. Do your research and don’t fall for prevailing myths. Even with bankruptcy on your record, good habits can positively affect your credit in 6 to 12 months.

There is life after bankruptcy. To learn more, call Brace W. Luquire for more information.