Life After Bankruptcy

I've Just Completed The Bankruptcy Process. What Now?

After completing the bankruptcy process, you may find that you face a new set of challenges. Whether you have decided to file under Chapter 7 or Chapter 13, some adjustments must be made to recover from such a drastic financial overhaul. Most importantly, however, you must take advantage of the opportunity that you have been given to start fresh and regain control of your financial future. To do so, you must take the appropriate steps to rebuild your credit and sensibly manage your expenses. With the help of a Tampa bankruptcy lawyer from the Law Offices of Buddy D. Ford, P.A., it may be as easy as following a carefully constructed plan.

Restoring Your Credit Score After Filing For Bankruptcy

Because the most dramatic side effect of filing for bankruptcy is a diminished credit score, you should begin the credit restoration process as soon as the dust has settled and you have adjusted to the new circumstances of your life after bankruptcy. Although you should not expect your score to rebound immediately, there are practical steps you can take to expedite the process. First and foremost, it is imperative that you continue to pay your bills on time, including mortgage payments, if you were able to stop the foreclosure of your home through bankruptcy.

Secondly, you can start by obtaining a secured card. Because it may be difficult to obtain a traditional credit card after filing for bankruptcy, an easy solution for rebuilding your credit is to invest in a secured card. This will allow you to place a certain amount of money in your bank account and use it as available credit. As long as you stay on top of your payments, regardless of how small they may be, you can expect your credit score to rebound steadily. Additionally, it may be a good idea to speak to a credit union about credit counseling, credit builder loans and/or rebuilder loans, all of which may help you gradually increase your credit score.

Plan For Your Future With The Help Of Our Firm

If you have recently completed the bankruptcy process and you are unsure of what to do next, you should not hesitate to sit down with a Tampa bankruptcy attorney at our firm. Not only can we assist you in devising a plan to rebuild your credit, but we can provide you with valuable insight into steps that you can take to more carefully manage your expenses and stay on top of your bills. For more than two decades, the Law Offices of Buddy D. Ford, P.A., has helped clients adjust to life after bankruptcy, so we encourage you to take advantage of the knowledge and experience that we have to offer. To learn more, simply contact our Tampa bankruptcy lawyers today.