Credit Restoration after Bankruptcy

Arizona Bankruptcy Lawyer

Many are concerned about their credit after filing for bankruptcy. There is the fear that they will suffer severe financial consequences and will not be able to borrow again for a decade. This is definitely a myth. If you carefully manage your finances after bankruptcy, you can get into a much better financial condition, even with your credit, in much less time than most people imagine. Within 6 months of a bankruptcy, if not sooner, you will begin receiving credit offers for secured credit cards or high interest, low limit cards. If you begin with one of these cards, and use it sparingly, paying off the balance every month, you will begin the process of rebuilding your credit.  An Arizona bankruptcy lawyer from Price Law Group has assisted thousands of clients to restore their credit after bankruptcy. We assist clients in filing Chapter 7, Chapter 11 and Chapter 13, as well as alternatives to bankruptcy.

Ensure you Credit Report is Correct

You should obtain a copy of your credit report from all three agencies and ensure that they are correct, and show that your earlier debt was discharged through bankruptcy. At that time, if there are other errors on your report, you can get those resolved as well.  There are certain financial rules that if followed, will allow your credit to get back into good shape in a much shorter period of time, even after bankruptcy. These rules include simple financial planning procedures including:

• Pay all your bills on time. Don't let any bill go past its due date.
• Follow a budget and watch your expenses carefully. Don't buy anything on time, and get rid of expenses that are unnecessary for the time being.
• Set aside a percentage of your income into a savings account. You will slowly build up savings that can be used for emergencies.
• Keep a close eye on your credit report and ensure that the information reflects your current financial condition.

Those who take advantage of the bankruptcy laws and thereafter carefully manage their costs and spending will restore their credit within a short period of time. You have an opportunity for a fresh financial start, and take full advantage of the freedom from debt to start over and rebuild your financial future. We can help.

Contact an Arizona Bankruptcy Lawyer from our firm to discuss restoring your credit.