Declaring bankruptcy is a tough time in anyone’s life.  It may seem like no one wants to lend to your or your family may think differently of you because you couldn’t pay your bills.  Let’s face it, we all make stupid mistakes in our lives but are we going to sit there and drown in our own sorrows?  No.  Instead, we are going to bounce back and figure out a way to rebuild our credit after bankruptcy.

Remember this to make you feel better

Bankruptcy won’t haunt you forever.  Legally, it can only show up on your credit report for up to 10 years.  After that 10 years, you’re going to be a whole new person credit wise.  So, when you’re sitting here now after your bankruptcy and think everything is going to go for the worse, think on the bright side and for the future.  Think of how you can improve yourself financially.

Study your spending habits

Everyone makes mistakes, I know.  Do people usually make the same mistake twice?  Probably not.  If you do, then you may have issues.  Look at it when you were a child and you touched the hot stove.  Did you touch it again when it was on?  Probably not.  What I’m getting at here is that we need to look at your spending habits and see how they can change.  Are you spending more than you make?  Are you not saving?  What are we doing wrong?  I suggest you start looking at ways to improve your money skills so that you never come close to debt again.

Start your credit again

If you feel safe with a credit card, I would recommend you apply for a secured credit card.  If you feel credit cards aren’t for you and you want to stick with a cash budget, do it!  Whatever you feel safe with, I recommend you do so.  Just remember, when you’re using cash, it’s going to be a lot harder to build up a credit score compared to those that do build up their scores once again.

Rebuilding your credit after bankruptcy is going to take time and it’s not going to happen within a week.  Learn from your mistakes and pay your credit card bills off in full.  As long as you’re responsible and you use your credit cards wisely, you’ll do just fine.  Take your time and I promise you down the long run, everything will pay off and you’ll feel like a whole new you.