September 28, 2020
Our Managing Attorney, Matt Herron, had the opportunity to discuss his thoughts on financial distress due to the COVID P...Read More >
The best ways to make a full financial recovery
Getting back on track after filing for bankruptcy can feel overwhelming. The Debt Doctors will not only help you bounce back financially but will also help you handle any emotional issues you are facing. Our attorneys will provide you with the support and guidance you need to make a quick recovery and get your finances in order.
Here are the best strategies for bouncing back after bankruptcy:
1. Store your bankruptcy documents in a safe place
By storing your documents in a secure place, you will be prepared to pull them out should you need to show them to a lender when requesting a loan for a big purchase or proving to a creditor that you have made all your payments.
2. Determine and understand why you filed for bankruptcy
It’s essential that you understand why you filed in the first place to prevent this from happening again. If you don’t determine the reasoning behind your filing, the solution will only be temporary.
3. Create a strong relationship with your bank
By establishing a relationship with your bank, it will be much easier to get a loan if you explain to your lenders the story behind your bankruptcy.
4. Consult with the Debt Doctors before borrowing money
Discuss whom you are borrowing money from with your bankruptcy attorney to avoid very high interest rates and get recommendations on who you should be borrowing from.
5. Make a budget
It’s crucial to keep track of your budget, especially before applying for a loan or credit card. Make sure you can make loan payments after reviewing your budget and expenses.
6. Check your credit report and correct any errors
Be sure to check your credit report and make sure there aren’t any mistakes. If you get these errors fixed right away this will help to improve your credit score.
Overall, the attorneys at The Debt Doctors strive to provide you with the best educational advice and strategies to get out of debt and in a better place financially. Our attorneys are determined to help clients see the best possible outcome, so they can live a better life free of debt.