Welcome to California Bankruptcy Relief

You are not alone in the bankruptcy process. Let us serve as your guide, helping you secure maximum debt relief through whichever type of bankruptcy is best suited to your specific case. Contact us today to get started.

Schedule Your Free Consultation

8 Things to Do Post-Bankruptcy

November 18, 2018

8 Things to Do Post-Bankruptcy

When your bankruptcy ends you can essentially start your financial life over. This is an exciting time but you want to make sure that you are taking full advantage of the opportunity to start over. Read on to get eight ideas of what to do after your bankruptcy. If you have questions or have not yet filed, please contact a bankruptcy attorney by reaching out to California Bankruptcy Relief at (888) 748-0025 for a free consultation.

  1. Save your bankruptcy papers
  2. The bankruptcy schedules will have a list of all the people you were in debt to when you filed your bankruptcy. They all got notices of your case and the discharge gets rid of your liability to almost all of them. In the event a creditor sells your discharged debt and the buyer tries to collect it from you, you will have documentation of your bankruptcy.

  3. Make a list of the debts you still have
  4. If you have debts that were not discharged then you should make a list of them. Examples of debts that cannot be discharged include alimony, child support, some taxes, and student loans. If your discharge order does not have a list of what debts you still owe, then you should list everything you have to pay.

  5. Verify your balances on liens
  6. If you have liens on your assets, then those liens can survive the discharge. It may be that the creditor cannot legally sue you for payment, but they may be able to repossess of foreclose on the collateral if you do not pay. Talk to the holders of your mortgage or car loan and make sure you know what your payments are and when they are due.

  7. Update banking
  8. It is often the case that automatic bill pay and online banking are disabled when you are in bankruptcy. Once your bankruptcy is over, you will want to reinstate these handy tools to help you better manage your money and rebuild your credit.

  9. Set up automatic savings
  10. Many people feel nervous after a bankruptcy because they do not want to be in a precarious financial situation again. We recommend setting up automatic savings for an emergency fund and for retirement. It is easiest to do this if the savings are automatic.

  11. Join a credit union
  12. In most cases, credit unions are more likely to lend money and will do so with better terms than a local bank. Join now so that you are an established member if you want to buy a home or car in the future.

  13. Take a look at your insurance coverage
  14. If you surrendered property during your bankruptcy, then it could still be in your own name. You may choose to get liability insurance until someone else takes title.

  15. Look at your credit report
  16. A few months after your discharge, look at your credit report. Look to ensure that all discharged debts have a zero balance. If it is not listed correctly, ask your bankruptcy attorney how to get it corrected.

Riverside Bankruptcy Law Office

10580 Magnolia Ave, Suite A
Riverside, CA 92505
(951) 389-4070

DISCLAIMER: The information on this website is for general purposes only and should not be considered legal advice. It is not intended to create an attorney-client relationship. California Bankruptcy Relief is a federally approved debt relief agency that provides legal assistance to people and businesses seeking relief under the United States Bankruptcy Code. For more information, please view our Privacy Policy.

Copyright © 2019 California Bankruptcy Relief. All Rights Reserved. Website by Webstract Marketing.