filing chapter 7 bankruptcyContrary to what you might think — or fear — filing Chapter 7 bankruptcy is not the end of your financial world. In fact, it’s a chance for a fresh beginning — that’s why it’s even possible for debtors to try filing Chapter 7 bankruptcy in the first place. Once all the court proceedings are over, and the bankruptcy attorneys have been paid, you can start the road to credit recovery.
To help you recover after filing Chapter 7 bankruptcy, here’s a few tips to help.

1. Don’t Accept Those New Credit Card Offers. 
Although you can re-open your lines of credit, don’t. These companies know that you can’t declare bankruptcy again for many years, and want to take advantage of that. It’s best to just turn them down, as tempting as they may be. Although, if you think you really need one, then opt for either department store credit cards, or secured credit cards. Just be careful.

2. Consider Taking Some Personal Finance Courses. 
Perhaps it was your fiscal habits that led you to filing Chapter 7 bankruptcy in the first place. In order to rectify such habits, you should contact a non-profit credit counseling service that can help you identify what things you should do differently in the future.

3. Pay Off Your Balances Every Month. 
If you’ve heard that carrying a balance is great for your credit, then forget it. Bureaus want to see that you’re capable of paying off your bills. Be sure to buy only things that you can afford, and that they’re paid for at the end of the month. Paying your bills on time will also help you to avoid late fees and similarly unnecessary costs.

4. Budget. 
Sit down every month and review what things you absolutely must spend on, like car payments, groceries, gas, etc. Once you’ve figured out what money you need to spend, you can figure out how to leverage the rest towards rebuilding your credit and put more towards a small cushion savings account.

After filing Chapter 7 bankruptcy, life can seem challenging, but don’t despair. The road to recovery may seem steep, but countless people before you have traversed it and come out fine. If you have any questions about how to recover after filing Chapter 7 bankruptcy, feel free to ask in the comments.