People ask me a lot of questions.\u00a0 A\u00a0 very common question is “how can I rebuild my credit after bankruptcy?”\u00a0 Another variation of the question is “how long will it take to rebuild my credit after bankruptcy?”\u00a0 For most of the people who are calling me, I think that is the wrong question.\u00a0 Hidden beneath the “how can I rebuild my credit” question is another question which I am afraid is the real question:\u00a0 “How soon can I get back in debt?”<\/p>\n
Once the bankruptcy is completed, most of my clients are really out of debt – or at least nearly out of debt.\u00a0 That can feel pretty strange for somebody who is not used to it.\u00a0 It can feel uncomfortable, just not normal, not OK.\u00a0 There can be a tendency to want to get back into debt as soon as possible, because being debt free is just too strange. Let me suggest this is not the time to be thinking about more credit.\u00a0 This is the time to focus on staying debt free and actually enjoying being debt free. Being debt free will start to feel really good if you allow yourself some time to let it start feeling normal.<\/p>\n
The better question would be “where can I learn some money management methods and principles?”<\/strong> I make no claim of being a money management expert.\u00a0 If you want such an expert, I have been recommending Lutheran Social Services and\/or Family Means for years.\u00a0 Having said that, however, let me share a few money management ideas that I believe actually work:<\/p>\n Everything I’ve ever read about money management says you should do a written budget.\u00a0 Personally, I’m not sure that’s such a great idea.\u00a0 Diets don’t work for people who need to lose weight, and I think a budget is a lot like a diet.\u00a0 Best to take it day by day, being mindful every day of where your money is coming from and where it is going to.\u00a0 I don’t think it is at all a matter of needing to put yourself on something like a diet.\u00a0 I think it’s mostly a matter of needing to really just start paying attention.<\/p>\n This article is for general information purposes only and is not intended to be legal advice. Kelly Law Office is a debt relief agency helping people file for relief under the federal bankruptcy code.<\/p>\n","protected":false},"excerpt":{"rendered":" People ask me a lot of questions.\u00a0 A\u00a0 very common question is “how can I rebuild my credit after bankruptcy?”\u00a0 Another variation of the question is “how long will it take to rebuild my credit after bankruptcy?”\u00a0 For most of the people who are calling me, I think that is the wrong question.\u00a0 Hidden beneath … <\/p>\n\n