One thing that often holds people back from the debt relief they desperately need is the fear of the stigma associated with filing for bankruptcy. The truth is there isn’t much to fear about bankruptcy and it is actually a pretty cool tool for getting you back on your financial feet. Further, once your debts have been resolved you have the chance at a fresh start. Here is what you need to know about moving on after a Dallas bankruptcy:
1. Take a breath — its been a stressful road, now is the time to relax. Don’t worry about taking on too much too quickly, but sit down and get your ducks in a row. The first place to start is with your credit report.
2. Check your credit report — It is important to make sure your information is up to date and accurate. Not all lenders will send the latest information to the credit bureaus immediately after your debt discharge, so be sure to contact any that have not yet updated your information and request they do so quickly.
3. Get a plan — Your financial fresh start should begin with establishing a budget. Use the tools learned in your credit counseling course to outline your expenses in relation to your income. Set up categories for miscellaneous spending like entertainment and restaurants. Track your spending and start a habit of staying within your budget.
4. Be patient — By now you are probably excited to see your credit improving from your debt discharge. Remember that credit recover takes time and effort, so be patient and stay diligent about maintaining low balances on your credit accounts and making consistent payments.