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Filing for bankruptcy protection is the only way for some people to reclaim their lives from growing debts. However, many borrowers hesitate, worried that having a bankruptcy on their record will essentially destroy their credit, making it difficult to borrow money, qualify for an apartment, or even get a job. While recovering from bankruptcy may be difficult, it doesn't have to be the end of your financial life, so follow these tips from Thomas A. Corletta, Attorney at Law, one of Rochester's most experienced bankruptcy lawyers.

  • Check your credit score. While you may have done this before your bankruptcy, check it again afterward to ensure that all of the information is accurate and that all of the debts have been correctly discharged.
  • Get a credit card. Immediately after your bankruptcy, you may have to open a secured account. Just make sure that the bank reports your activity to the credit agencies but doesn't report the card as secured, and remember to pay off your bill in full every month.
  • Apply for a store or gas card. Again, make sure the lender reports your activity to the credit reporting agencies, since you want to demonstrate your financial responsibility. Avoid paying large application fees, and don't buy more than you can afford to pay off in a single month.
  • Start saving. Since most of your debts have been discharged, now is a good time to start saving. This will give you a cushion if an unexpected emergency arises instead of using credit.

Visit Thomas A. Corletta, Attorney at Law to learn more about bankruptcy, or call (585) 546-5072 for legal advice you can trust.

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