Life After San Bernardino Bankruptcy
Once your San Bernardino bankruptcy has been discharged and/or your repayment plan has been completed, you are ready to begin anew. Being responsible with credit and debt after bankruptcy will go a long way towards reestablishing your good credit. You can ensure that your credit report and scores get off to the best start possible by taking a look at your credit report. Ensure that debts which should have been discharged under the bankruptcy are showing as discharged and not as past due. Any debts which were discharged as a part of your
San Bernardino bankruptcy proceeding should be listed as such, and if they aren't, you should file a report with the credit bureau in order to have it corrected.
If you completed a Chapter 13 repayment plan, you are already several steps ahead when it comes to financial discipline. Now that you no longer have to pay the trustee, take the money that would have otherwise gone to pay down your debts, and use it wisely - contribute to a retirement plan, save up with a CD or other investment, and plan large purchases by saving up over several months to buy it at once, rather than using credit on a whim. If you are diligent about being financially responsible, you will be able to get your credit scores to rise regularly as time passes from the date of your
bankruptcy discharge.
The longer the time has elapsed since your San Bernardino bankruptcy filing, the less weight it will hold on your current credit score. What is more important is how you handle credit after your
San Bernardino bankruptcy is discharged. While nothing is certain in this current economy, you may find that after your bankruptcy has been discharged by the court, you start receiving offers for new lines of credit. This is because creditors know that they have years before you can file for
bankruptcy protection again, so if you default, they will be free to seize your bank account, garnish your wages, and file judgments against you without your being able to seek legal protection.
You should also be aware that these credit offers generally have the worst terms available with regards to interest rates, penalties, and late fees. Generally, it is in your best interests to avoid getting new credit until some time has elapsed after your San Bernardino bankruptcy filing. If you have a mortgage or car payment, making regular payments and remaining current will allow your credit score to rise even if you avoid credit cards and personal loans after your bankruptcy.
Life doesn't end after you file for San Bernardino bankruptcy. Instead, the choices you make after your bankruptcy is discharged will mean the difference between a successful financial future and one that is clouded with doubt. Be responsible, take credit seriously, and make wise financial choices, and you may find that filing for bankruptcy was one of your best moves in terms of financial security and stability in the future. Contact our team of dedicated
San Bernardino Bankruptcy Attorneys now and receive a free initial case consultation or fill out our
free online San Bernardino Bankruptcy case evaluation.
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