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Fort Worth Bankruptcy Attorney

Life After Bankruptcy

There is definitely life (and credit) after bankruptcy, but tread wisely! Although your slate has been wiped clean, here are some tips to help you to help reestablish your credit rating and to also avoid having future debt problems!

Budget - You will need to change your spending habits, prioritize your expenses and it is imperative that you create a budget that you can live with and stick to! Of utmost importance is paying your bills on time each month!

Savings - Make this a part of your budget! No matter how small the amount may be in the beginning, establish a savings account and start making regular deposits for an emergency fund.

Obtain a Secure Credit Card - Once your budget and savings has been established, you may want to start the first step in trying to reestablish your credit. Check to see if your bank or credit union offers a secured credit card program. With a secured credit card, you deposit money into a special account with your financial institution. The standard is that you will be issued a credit card with a limit equal to the amount you deposited.

Remember that when you begin to reestablish your credit, in the beginning, credit is going to cost you more, so be prepared to see the offers of higher interest rates for loans and credit cards.

However, if you

  1. Stick to your budget and not allow yourself to accumulate too much debt
  2. Pay your bills on time each month
  3. Pay off your credit cards in full at the end of every month and
  4. Do not allow yourself to accumulate too much debt

Then, over time, the less your bankruptcy will matter and the more likely lenders will be willing to extend to you better interest rates.

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Patrick D. West Law Firm, P.C.
4420 West Vickery Boulevard
Suite 100
Fort Worth, TX 76107
Phone: 817-332-2600
: 817-989-6554
: 817-953-2792
Fax: 332-260-5817

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