Choosing to go through the process of bankruptcy was likely a very difficult decision but now you have the opportunity to start new. The New Year is a great time to create new habits and ensure you get started on the right foot financially. Use these tips to help you accomplish your financial goal after bankruptcy this year.
Rebuild Your Credit
Only Spend What You Can Afford
Even if you do get a credit card, you should only spend what you can afford, not according to your limit. Your goal should be to pay off the credit card every month so you can build up your credit score. You do not want to spend so much that you find yourself in debt again. Remember that this is just a way to build credit for the future and now a way to find your lifestyle. Live within your means and you will be better able to navigate the future.
Pay Bills on Time
If you do have outstanding bills that you need to pay, make sure you always pay them on time. You do not want to get into the same situation again. Set yourself reminders or sign up for automatic bill pay so you never miss a payment. One missed payment can greatly impact your credit score so you want to be sure that this is a priority for you every month.
Life after bankruptcy can be stressful and you may not know where to start but we are here to help. For more information about starting over after bankruptcy and other steps you can take, be sure to contact Clark & Washington.