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What Should I Do After My Bankruptcy Discharge?

The bankruptcy case is now finished and your debt has been discharged.  Is there anything left to do?  Although the case is done and 99% of the work has been completed, there are some things you should do after your case.

1.) Pull your credit report after your bankruptcy discharge.

You should do this about 1.5 months after your bankruptcy case to give ample time for your creditors to update your credit report.  Make sure that all of the debt in your bankruptcy case shows that it has been discharged via bankruptcy.  You shouldn’t have any past due accounts that do not show your bankruptcy information.  If there is a debt that shows you are late or missing payments, without your bankruptcy information, you should dispute the item on your credit report and contact the creditor make sure that they will report your account properly going forward.  “Pull Your Free Annual Credit Report”

2.) Start rebuilding your credit after your bankruptcy case.

One of the biggest mistakes you can make is waiting too long to rebuild your credit.  There is no reason to wait 1 or 2 years to start rebuilding your credit.  Once you receive a discharge, open a secured credit card and start establishing a payment history.  There are many resources for rebuilding credit after bankruptcy on the internet.  We frequently have clients who are able to rebuild their credit scores to 700+ within a year after their bankruptcy case AND purchase homes just 2 years after their bankruptcy case.  Being diligent about rebuilding your credit after bankruptcy can help you to bounce back much quicker than you ever expected.

3.) Answer your phone if a creditor calls you.

There are some instances when a creditor may not be aware that you filed bankruptcy.  You may have unwittingly omitted them from your bankruptcy paperwork or there may be issues within their company and the bankruptcy case may have gone unnoticed to them for some reason.  If you have a debt collector calling you after bankruptcy, make sure to talk to them and inform them of your bankruptcy case.  In nearly all cases, you informing them of your concluded bankruptcy case will  stop all future calls.  However, be aware that there are some scams where scam collection companies will attempt to scam money from you by stating that your bankruptcy case does not matter to them for some reason.  If this happens to you contact your bankruptcy attorney to get their advice…but you should never blindly send these creditors payments after your bankruptcy case.  However, please be aware that certain kinds of debt is not dischargeable in bankruptcy such as child support, spousal support, certain taxes, student loans, and governmental fines.  And if you are keeping your house and/or car after bankruptcy make sure to keep up with your those payments after bankruptcy.

4.) Enjoy your fresh start.

The last item on the list is to enjoy the fresh start you have been granted and look to the future.  Don’t live the rest of your life with guilt and shame, regretting your bankruptcy case.  Be glad that you made a smart financial decision for yourself and those around you.  Do what you can to avoid being in the same situation in the future but understand that many times things happen that are out of our control and turning to a real solution like bankruptcy is always the right choice.

Your bankruptcy case is now over.  You made the best decision available to you to restart your financial life.  If you have any questions after bankruptcy don’t hesitate to contact your bankruptcy lawyer. 

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