Trying to find your financial footing after a bankruptcy can be challenging. Not only must you rebuild your credit, you also have to stay on top of your basic bills. Some people assume that things will be fine once their debts are discharged. But the truth is that you will likely be on a tight budget for awhile.
Creating a budget is one of the best things that you can do when you are trying to overcome the deficits of filing for bankruptcy. This illustrates where your money goes and where you can save a few dollars. It is also a chance for you to boost your savings. When you are on a budget, use cash to pay for all purchases. This lets you actually see the money going out, which can help you control where you are spending every dollar.
Be careful when you are working to rebuild your credit. Some companies will claim they can help you do this, but they are scams. Instead of trying to take the easy way out and potentially paying someone for nothing, try starting with secured credit cards that will report to the credit bureaus. It might also be possible to have utility bill payments added to your credit report if you qualify for a program through Experian. These options can give you a positive payment history if you pay them on time.
You must ensure that you are filing the correct bankruptcy chapter for your needs. There are two primary personal bankruptcies, each of which has specific guidelines and impacts on your life.