Our Bankruptcy Attorney Blog

If you’ve filed for bankruptcy and are getting ready to come out of it, it may seem paradoxical, but you need to get right back on the horse and start applying for credit cards. Each credit card will have a different credit balance, which is exactly what you need. It will take a ton of discipline, but you will need to start making small purchases and then paying off the balance right away at the end of the month. Don’t get crazy and start spending more than you make, you don’t want to end up back in bankruptcy.

Be very cautious with your new credit lines – there will be a tendency to spend, but fight it. Set a regular amount you can’t go over – maybe $300 a month, some low amount that you are very comfortable with. Using credit cards after bankruptcy is the right thing to do, just be smart about it!

You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.