Designing Strategies To Get Your Life Back To Normal After Bankruptcy
You put a lot of time and effort into your debt relief plan and ridding yourself of severe debt. It is equally important to have a plan for life after bankruptcy. Having a post-bankruptcy strategy in place prior to receiving your discharge can help to ensure a smooth transition.
Two Important Steps To Take After Your Bankruptcy
1. Rebuild your credit. Many people think that it will be impossible to get credit following a bankruptcy. In fact, the opposite is frequently true. Once your debts have been discharged, creditors frequently offer secured credit cards. These can be very helpful in the process of rebuilding your credit. Be careful with the offers you accept. Be mindful of the credit terms, and don’t take on more credit than you can realistically repay.
2. Ensure the accuracy of your credit report. All of the debts that were discharged in your bankruptcy should show as either a zero balance or as discharged in bankruptcy on your credit report. Even if the creditor did not receive full payment, the discharge relieves you of any further responsibility for the debt. It is important that you review your credit report on a regular basis to ensure that all of the debts discharged in your bankruptcy are accurately noted. If they are not, we can help you take the necessary steps to correct them.
Rebuilding Your Credit
As you continue to make regular payments on mortgages, automobiles, student loans or other post-petition obligations and time passes after the bankruptcy, you will begin to see your credit score recover. Over time, you will become eligible for traditional credit and other forms of lending.
Need Help Developing A Long-Term Plan? Consult With Us Today.
At Levitt & Slafkes, P.C., our lawyers provide comprehensive debt relief solutions to clients in Essex County and throughout New Jersey. We pride ourselves on serving our clients’ needs before, during and after bankruptcy. Call us at 973-323-2953 or contact our attorneys online today. Your initial consultation is free.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.