When I was contemplating filing bankruptcy…
I often wondered how people go on to live normal, happy lives after bankruptcy. I had no idea how I, or anyone else, could face life or their friends, and family after losing everything. I lost my home, my car and my marriage. And to make matters even worse, I was one hundred pounds overweight.
I’m about to tell you my story about coming back from bankruptcy and living a normal and happy life again.
I know your situation isn’t the same as mine, therefore there is no way to know for sure what your life will look like after bankruptcy. Everyone’s debt, income, ability to manage money, and life experiences are different and unique.
However, my intention is to help inspire you to create a brighter future for yourself as a result of my experiences.
If you learn nothing else…
There is life after your bankruptcy.
Many people believe that life is over when they have bad credit. This isn’t true. Yes, living well with bad credit is harder than living well when you have good credit. But, you can still do it. It just takes a little more work and effort.
If you choose to make your life better, then you can. You are the only one that can make this decision and then take the action to create it. No one can do it for you.
After looking back on my life, I believe filing bankruptcy was one of the wisest financial decisions I’ve ever made. I realized for me to move forward in my life, I had to get out of all the old debt from my financial past.
Making the final decision and meeting with an attorney to file bankruptcy was one of the hardest things I have ever had to do. There was a lot of mental anguish and sleepless nights, trying to figure out ways so I wouldn’t have to file.
After awhile I realized that no matter what I did, there was no other way out but to file.
I had exhausted all avenues to repay my debt.
Life After Filing Bankruptcy
The first thing that happened after filing was that all my creditors stopped calling for money, and I wasn’t afraid to answer the phone anymore. The stress about all my debt was gone. There was this big weight lifted off my shoulders, and I could breathe again.
The second part of starting my new life after bankruptcy, was having to deal with the stigma of having to file bankruptcy. The mental part of giving up and admitting I couldn’t pay back my debt was devastating to me.
I had always paid my debts in the past.
After the dust started to settle, I soon discovered it wasn’t such a big deal as I thought. I came to realize that the bankruptcy laws were there to help people like me who didn’t have the means to pay.
Rebuilding My Credit
One of the first things I had to do was get another car after my bankruptcy. I was able to get a vehicle with a small down payment. I faithfully made my payments every month.
At the time I didn’t realize getting a car was one of the best things I could do to start rebuilding my credit. Looking back I can see how it really helped raise my credit score.
Soon after that I got a secured credit card and only charged what I knew I could pay off in full each month.
I also began to save money and pay cash for the things I wanted and needed. I lived within my budget and means. I wasn’t going to spend more than I made this time around.
I got the lessons my bankruptcy taught me about money and how to manage it better.
Today I have two vehicles, I live in a beautiful home and have a wonderful girl friend. I now weigh in at a healthy 160 pounds and I am enjoying my life.