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Tips for Life After a Texas Bankruptcy

By Christopher Lee May 2, 2013 | Posted in

fresh startFiling for a Texas bankruptcy is the perfect opportunity for a fresh financial start. However, avoiding money management mistakes is crucial to ensure that you experience that fresh start, instead of falling into the same bad habits. By exercising proper money management, you’ll be able to restore your financial profile to be stronger than it was before! Furthermore, you’ll avoid the risk of having to file for bankruptcy again.

Money Management

One of the key secrets to life after bankruptcy is proper money management. You will have to work to rebuild your credit and financial reputation.  To do this:

  1. Seek help from reputable sources. There are many resources such as credit counseling agencies and financial advisors who will seek to help you recover after your debt troubles. However, be wary of anyone who claims they can help you quickly rebuild your credit or even remove the bankruptcy from your history. Expect the bankruptcy to stay on your score for up to 7 years, and don’t believe those who say they can help you remove the bankruptcy from your credit report. They might be trying to steal your private information.
  2. Allow yourself to use credit again. Many who file for bankruptcy are hesitant to enter the world of credit and debt again. However, going on a cash-only basis doesn’t allow you to rebuild credit by using credit responsibly. You want to be able to prove your new money management skills!
  3. Budget on paper. Keep track of every penny you earn, spend, and save. By keeping a financial record of everything going on, you’ll be able to see the flow of your finances and adjust as needed. This money management skill could have helped thousands of people avoid a Texas bankruptcy.
  4. Establish an emergency fund. Emergency savings should be separate from your regular savings account. Car troubles, a broken refrigerator, or a lost cell phone can all cost hundreds of dollars that can distract your new money management practices.

Which of the following has happened to you RECENTLY?(select all that apply)

  • Creditor Harassment
  • Disability or Illness
  • Divorce
  • Foreclosure
  • Lawsuits of Judgments
  • License Suspension
  • Loss of Income
  • Loss of Job
  • Repossession
  • None of the above
  • Other

 Est. Total Debt


What to do now? : Simply add up ALL of your total debt from the items on the left( estimated is fine) and enter the total in this box. Then click NEXT.


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Everybody I have encountered and meet with at Lee Law Firm has been positive and encouraging. And that is exactly what I needed because nobody looks forward to going through bankruptcy. The staff was honest about my situation and put my mind at ease about the process, and for the first time in months I was able to relax and focus…

on getting out of my financial situation with hope of starting over. I would recommend Lee Law firm of friends and family because I feel like they have my best interest at heart.

-- Brad H  

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