Sunday, July 7, 2013

Bankruptcy

There are several things to think about after filing bankruptcy. It will stay on your credit report for up to 10 years and you should be prepared to make-do with less then perfect credit. In fact, few places will lend you credit if you have a bankruptcy on your report. For this reason, you need to plan on making purchases with cash. You should also consider your savings, as no credit means you will need a financial safety cushion. While the goings will be tough, you will learn how to live without all the "necessities" of modern life - like excessive phone costs; elaborate morning, afternoon, and nightly coffees; and rented cars. There are also sites and companies that can help you better manage your money so that bankruptcy remains in your past and not in your future.