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Life after bankruptcy: rebuilding your credit

On Behalf of | Jan 10, 2020 | Bankruptcy

While the thought of filing for bankruptcy may initially be terrifying to you, this decision can actually be the beginning of a new future for you and your family. When approached with responsible timing, guidance and implementation, filing for bankruptcy can benefit your life in ways you did not even imagine. At Christopher Todd Morrison, P.C., we are experienced in helping people in Texas through the process of reorganizing their finances. 

One of the areas of your finances that may be immediately affected is your credit score. The good news is, you can recover your credit and with proactive efforts, you can boost your score to allow you to secure lending even with a bankruptcy on your record. Immediately upon filing for bankruptcy protection, you should begin to take steps to protect, strengthen and boost your credit score. Waiting too long is going to be a disservice and could make recovering your credit score harder than it could have been. 

According to, if you need lending but are unable to secure any because of your bankruptcy, your family and friends may be able to provide support. You could ask someone you trust to co-sign on a loan to allow you access to the funding. Even with a co-signer, repaying your loan on time may enable you to establish a positive rapport with the credit companies. As the bills continue to roll in, be timely about paying them and immediately contact lenders to negotiate alternative deals if you are unable to meet payment requests right away. Other steps you can take include seeking professional help to manage your debt and reorganize your finances and considering the possibility of opening a secured account. 

With your commitment to rebuilding your credit score, you can undoubtedly overcome the challenges that bankruptcy may bring and move forward with your life, debt-free. For more information about how to file for bankruptcy, visit our web page.