After Bankruptcy

Jeff's After Bankruptcy Tips

Live on Cash- If you can, swear off credit cards and live on cash. I use my debit card for internet and travel. It can be a hassle sometimes but life without credit card bills is much better.

Be realistic about Home Purchase- Unless you are in an inflationary real estate market it is often more economical to rent than to own. Mortgage interest, broker & closing fees, title insurance, taxes, homeowners insurance, maintenance and repairs etc. etc. add a lot to the cost of housing when we buy. I have owned several homes and have been a landlord and renter and I am convinced that in a non-inflationary market it is better to rent, which I do.

Let the Guilt go. Guilt is something we choose. And it is a totally negative emotion, it accomplishes nothing. Try to trade feelings of guilt for determination. Each time you feel guilty about having to file bankruptcy, just make one determined decision; "I will pay my electric bill as soon as it comes in the mail", "We will make pizza together as a family Saturday instead of eating out". When we take action to resolve our guilt we feel better.

Take pride in being a Cheap Bastard- With each purchase try to figure out if there is a way to avoid it. Before you go through the check out at Target drop the things you don't really need. They can re-shelve.

-If you still have a house or car payment, make it early or on-time every time.

-Avoid credit card offers and use your debit card instead.

-Maintain steady employment. If you are going to leave your job, have another lined up first.

-Talk to your kids about budgets and spending. If you are on vacation tell them how much your budget is for the day and let them help decide whether to play miniature golf or go to a movie so they can realize you are not a money tree & learn how to plan their own spending.

Finally, just remind yourself once in a while that we are only talking about money. After 10 years as a cop I can tell you if I lost everything and had to start from scratch, that would seem like no big deal compared to the people I saw lose loved ones, lose their children, go to prison for life because of a horrible mistake etc. Plus we have a very forgiving culture. We have the most efficient economy in the world in part because it is ok to fail and start fresh. Redemption is a big American value. We can always make more money!

VIDEO- CREDIT AFTER BANKRUPTCY

Credit After Bankruptcy

Jeff,

"My wife and I would like to thank you for the service that you provided us. We just recieved our discharge letter in the mail this afternoon and what feeling it is to have that burden lifted off of our shoulders that we carried for the last couple years! Thanks again for all your help and time that you provided to us and wish you the best!"

Sincerely,

Ben