Choices After Filing Bankruptcy

May 2, 2010 - PRLog -- Life after bankruptcy is truly a “fresh start.”  Contrary to the negative connotation associated with the filing of bankruptcy, it is becoming an increasingly popular option for many people, investors, homeowners, and businesses that have all been impacted by our latest financial collapse and unstable global economy.  More than 1 in 4 homes in the United States is now what they call “underwater” not a good place to be given so many, for decades, have relied on their homes as an investment into their retirement.

So, no you find yourself in a life after bankruptcy and it does feel good to no longer have the burden of worrying about embarrassing and harassing phone calls on a daily basis and just the overall freedom from the debt no matter how it came about.  You are on a new road, and one that you can manage far better giving your experiences of the past.  You don’t want to end up in the same situation that got you to bankruptcy in the first place and there are many steps you can personally take to keep yourself from venturing down the same path.

You will be amazed at how easy it will be to re-establish your credit after filing bankruptcy.  Many companies see you as another way to earn money in providing you with credit.  Avoid the mistakes of the past any only establish “safe” credit by using a secured credit card and using credit sparingly, only in case of emergency, or to use for very small purchases you can easily pay off the following month.

Avoid carrying a balance on your credit card.  But, should you be required to make a larger purchase, maintain the discipline to pay off your purchase as quickly as possible and do not make any additional purchases until you have paid your card off.  Living within your means is a difficult thing to do now-a-days since so many of us have been raised as impulsive purchasers.  Learning to tell yourself “no” and learning to save your money for the things you really want will keep you out of financial debt and leave you to live a stress free life after bankruptcy. For more Information visit http://www.economywatch.com/debt/bankruptcy/after-bankrup...

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