On Behalf of developers | April 20, 2021 | Bankruptcy
Your long and, sometimes, difficult path to financial recovery is coming to an end, but, actually, it represents a new beginning. Emerging from bankruptcy is an accomplishment by itself. Now, what do you do? Bankruptcy allowed you to get rid of your debts and provide you with a chance at a fresh financial start. Now, you must make good on that.
Since you do not want to fall into the clutches of credit card debt, excessive spending and out-of-control medical bills again, you understand that it is time to focus on some good habits. Better habits. You want to put this experience behind you, but also learn from it. You are ready to get going.
Thousands of people experience bankruptcy each year. The American Bankruptcy Institute reported that in 2018, close to 462,000 Americans filed for Chapter 7 bankruptcy and more than 288,000 filed for Chapter 13.
But how many within this group decided to pursue a new path and push the restart button on their spending ways and financial habits? It is hard to say, but here are some steps to consider after filing bankruptcy:
You understand that it will not be easy. And you also understand that you do not want to relive your past experiences with the spending choices you made. This is doable. Just focus, make some sacrifices, and rewards will come your way.