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Regaining Financial Independence after a Chapter 13 Bankruptcy

Bankruptcy has a bad reputation in the financial world, but there are ways to rebuild your life and regain financial independence after a Chapter 13 bankruptcy. A Chapter 13 attorney in Richmond, VA is one resource for rebuilding your credit and finances after a debt discharge. Below are some resources you should consider when trying to rebuild after a successful bankruptcy.

Credit Counseling and Financial Education
Maybe you’re a person who likes to have a credit card for each of your favorite department stores, a gas card, and online credit cards for your favorite websites. Add to that all of your regular bills for necessities and you can get into debt quickly.

As part of your bankruptcy case, you will be required to take some form of financial education. After your case, it’s important that you continue learning how to manage your finances and budget your bills. If your salary changes, you should retake credit courses or financial classes in order to refresh yourself on how to budget with your new salary. A Chapter 13 attorney in Richmond, VA can help you locate classes or even offer you future financial and money management advice as part of your bankruptcy case.

Slowly Build Up Credit
You may not be able to apply for credit right away, but that won’t stop creditors from issuing advertisements for credit cards. Once you decide to reopen a credit account, choose one with a small limit and low interest rate. If possible, save it for emergencies only or use it strictly for groceries or gas. By knowing an approximate value of what you’ll charge each month, you can save the money to pay it off and start rebuilding your credit.

While filing for bankruptcy isn’t ideal, it’s also not the end of the world. You will one day be able to buy a home and vehicle, maybe even sooner than you think. If you have mounting debt, speak with a Chapter 13 attorney in Richmond, VA about whether or not Chapter 13 is right for you.

If you’re in need of a Chapter 13 attorney in Richmond, VA then look no further than Bankruptcylawva.net for expert advice today.

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