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5 Tips to Help You Get Back on Your Feet After Bankruptcy


Bankruptcy gives you the opportunity to take control of your finances and make good financial decisions moving forward. While the decision to file for bankruptcy is difficult, it is also the decision that will free you from debilitating debt and long-term financial struggles.

We want you to make the most of the debt-free financial fresh start that bankruptcy gives you. To that end, we’ve put together these 5 tips to help you get back on your feet after bankruptcy.


After bankruptcy create a budget and stick to it. This is the single greatest way to take control of your finances.

We offer budget consulting free of charge to our clients. Our goals are to help you get out from under the weight of debt, have a fresh start, and be equipped to fully provide for the needs of you and your family.

The benefits of budget consulting include:

  • Gaining a clear idea of where your finances are.
  • Creating a clear plan of where you want your finances to be.
  • Creating a budget that is in line with your needs and your family’s needs.
  • More confidence in managing your finances moving forward.

Read more about our free budget consulting services here.


One aspect of your budget will be the amount that you save each month. Saving is a critical component to financial health and ensuring that you can handle emergencies as they arise. A good short-term savings goal is to save enough to cover four to six months of your living expenses as your emergency savings.

Pay all of your bills on time.

After bankruptcy, it is important to pay all of your bills on time, every month. On-time monthly payments are part of good financial health and certain payments will also help your credit score recover more quickly after bankruptcy.

Consider getting a credit card.

This is not to incur new debt — getting a credit card after bankruptcy can help your credit score recovery more quickly. It is critical that you only charge the amount that you will pay off in full and on time each and every month. You do not want to start the vicious debt cycle again once you have your financial fresh start after bankruptcy!

After bankruptcy, you do have options when it comes to getting credit cards. One option is to get a secured credit card, which is when the lending bank will hold an amount of money you give to secure the card, which will also be the charging limit for the card. When you close the account or later renegotiate it to be an unsecured credit card, you get your deposit back.

Another option is to apply for an unsecured credit card. Right out of bankruptcy you will likely be able to qualify for certain cards; however, these may come with unfavorable terms, annual fees, or high interest rates. Also, be mindful not to apply for too many credit cards, because doing so will harm your credit score.

If you choose to get a credit card after bankruptcy, make sure you only charge what you can afford and pay the bill in full each month.

Make sure your credit report is accurate.

Everyone should be monitoring their credit report. Information is often misreported, and periodic monitoring is a way to detect identity theft.

After bankruptcy, check your credit report and make sure your accounts are properly reported as discharged in bankruptcy. Otherwise, your accounts may still be reporting a balance due, which adversely affects your credit score.

The information contained in your credit report dictates your credit score, and your credit score determines your credit-worthiness. To ensure that your credit score is as high as possible, make sure that the information on your credit report is accurate. Learn more in our article Order A Free Credit Report.

Life after bankruptcy.

We understand that filing for bankruptcy is a difficult decision, but we assure you: there is life after bankruptcy. If you work with us, we will help you make the most of your fresh financial start.

Here at the Law Office of Barbara B. Braziel we will make sure you understand the benefits of bankruptcy and how filing with affect you and your family. We invite you to learn more about our firm here and come meet with us for a free, no-obligation consultation.

Reach out to us by email at or call (833) 522-1069.

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.

The post 5 Tips to Help You Get Back on Your Feet After Bankruptcy appeared first on Braziel Law.

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