|Contemporary Prosperity Advisor Paula Langguth Ryan is dedicated to helping you
heal your relationship with money by helping you change the way you think and
feel about prosperity and abundance. To learn more about her innovative
prosperity teachings, visit her website at
www.artofabundance.com or call 800-507-9244.
is the hardest financial decision you'll ever face. It can be a
fresh start, or it can be the start of the biggest financial
nightmare ever. To make sure you truly get a fresh start after
bankruptcy, follow these "Do's and Don'ts".
get copies of all three credit reports and make sure that the
accounts in your bankruptcy are listed as discharged.
get a secured credit card but make sure the card issuer
reports your payments, has a grace period, and doesn't report
your card as secured.
set up a DebtBuster Strategy for your undischarged debts and
pay them off as quickly as possible.
wait at least two years before applying for a mortgage or car
loan to get the going interest rate.
call a credit counselor and cut up any new credit cards if you
find yourself in debt over your head again.
|| DON'T jump at every credit
offer that's mailed to you. You're better off seeking out a good
secured credit card on your own.
|| DON'T reaffirm debts that aren't
essentials such as your car, mortgage or major appliances.
|| DON'T let creditors shame you into
paying a higher interest rate because of your bankruptcy. Once
you've paid regularly on a secured card for two years, you're
eligible for the going interest rates.
|| DON'T take out a car loan for
longer than two years there's too great a risk of becoming
"upside-down" on your loan and owing more than the car is
|| DON'T go to "bad credit no
problem" lenders! They'll bleed you with outrageous interest
You can be your own worst enemy after
bankruptcy, or you can be the best guide you've ever had. Follow
these tips and you'll soon be back on your financial feet!