Life after bankruptcy chapter 13 is possible regardless of how it feels now

When you have to file bankruptcy you feel as if the world has collapsed and there is no way out of your troubles. Regardless of how stressed you feel today, there is life after bankruptcy chapter 13.

Chapter 13 requires you to repay a portion of your debts through a court constructed repayment plan. Take advantage of this plan and make all your payments on time. Just think, you will be debt free in less than five years! If you were forced to pay these credit card debts without the bankruptcy you would be looking at another 25 years of m payments.

As you continue to make your payments on time, begin to clean up your credit report. Review your report to make sure that account involved in the bankruptcy is listed that way and that any wrong information is corrected. Cleaning up your credit will take a couple of months, but it is worth the effort.

Another thing to check on your credit report is collection agencies. If you claimed a credit account on the bankruptcy make sure that a collector is not reporting it as a bad debt. This happens often and will negatively affect your report.

Save some money if possible. You have been given a fresh start. Put some money back for yourself as a reward for your troubles. Having that little cushion gives you a sense of security, even if it is small.

After 2 years you can begin to apply for credit again if you are financially stable. Most credit companies that see a chapter 13 bankruptcy want to see at least 2 years worth of good credit history and payments to the court before issuing credit.

As you can see, there is life after bankruptcy, even if it is slow at first. The hard times are now behind you, it is time to start building a better future for yourself.