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Moving forward after bankruptcy

Posted by Percy A Lowe on October 10, 2013 at 7:00 AM

Once you have learned your lesson about your past irresponsible credit behavior, you need to reset your priorities regarding how you should live. Indeed, some of your financial difficulty may have been caused by plain old bad luck. That raises the question: Why were you not responsible enough to set aside money to get you through hard times? Nothing is promised to anyone and everyone should be able to cover their own back. Unlike in the past, your focus should be proper debt management, long-term savings, and responsible spending.

Bankruptcy is a serious matter. It is not the end of life as you know it. Many have lifted themselves up and started living responsibly and are once again enjoying life. Once you are on the proper path, you may be pleasantly surprised how new financial responsibilities may offer themselves to make your future quite bright.


A bankruptcy is a death of some sort-that is, the death of your financial stability and security. Like most deaths, one needs to go through the stages of grieving, of which acceptance is crucial. You need to acknowledge that you've made bad financial decisions and that your bankruptcy is just a mere consequence of those choices. Don't be too hard on yourself. Instead, consider this a challenge to overcome and a lesson to be learned.

Be Firm on Your Resolve Not to Repeat Past Mistakes

A couple of months after you've filed for bankruptcy, you'll find that some firms are willing to give you loans. Take this as an opportunity to rebuild your credit rating. Consider the interest rates and your capability to pay them before you take out a loan. Pay your monthly dues religiously and promptly. This helps improve your credit rating and sends out the message to your creditors that you are dead set on managing your credit conscientiously.

Commit and Dedicate Yourself to Becoming Debt-Free

Keep track of your finances. Monitor your spending and strive to keep it at a minimum. It helps to make a record of all your expenses to get things in perspective. Pay your bills on time and whenever possible, give more than what is needed to cover the minimum fees. Keep in mind that doing so will take you one step closer to your ultimate goal-that is, to be free of debt.



Categories: Bankruptcy Recovery

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