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There’s a lot of resources out there for how to know if you qualify for bankruptcy, how to file, where to file, and plenty of information about getting through bankruptcy. But what does life look like after you file and pay off your debt? Bankruptcy is all about giving you the ability to start over, a financial blank slate. But what do you do with that blank slate?

From emotional recuperating to getting yourself a good credit score again, there’s so much to do after bankruptcy.

Exactly how you do this and where to start is going to be a matter of research and personal situation. Everyone is different, every bankruptcy situation is different, but life at the end of the tunnel is designed to be brighter.

Below are some places of focus after you finish paying back your debt through a bankruptcy filing. Take a look.

Credit Score

Your debt and inability to pay it off is what got you into this situation in the first place, so improving your credit score isn’t just a matter of having a good number to show, but also developing good habits to keep your score solid. Pay back what you owe, on time, and always pay more than the minimum when possible. Avoid credit relief agencies and be patient with yourself and your money.


This is your time to relax. The worst part of the situation is over. And you’re not alone. Not alone if you have the help and support of an attorney and maybe even financial advisors, plenty of people go through bankruptcy. Now, thanks to the internet, we’ve got instant connection to people all over the world, so consider looking into support groups or seeking out another person in a similar position interested in chatting about it. Maintain your support network. It’s free.

Savings Accounts

As part of your new no-frills lifestyle, you’ll want to be putting a significant amount of money into a savings account in case you ever find yourself in another dire financial situation. Allocate a certain amount of money from each paycheck into a savings account and stick to it. Don’t dip into it unless you absolutely have to. Be disciplined.

Related Questions

How Long Does It Take to Remove Bankruptcy from Credit History?

Like getting driving tickets or minor infractions, you will have a record of bankruptcy on your financial history that can be accessed by banks, loaners, and other financial officials. The good news is, bankruptcy will be expunged from your record. The less good news is that it will take 7-10 years to happen.

Does Bankruptcy Eliminate All Your Debt?

Unfortunately, no. There are types of debt that cannot be used to claim bankruptcy and, if you claim bankruptcy for other debt, will not be paid off as part of the process. This includes student debt, alimony/child support, debt owed to government agencies, and your most recent back taxes.

There is life after bankruptcy and a light at the end of the tunnel. This is your chance to start over and have a clearer path ahead. Look at it that way and know what you need to do to get your life back on track.

If you are overwhelmed with debt and it is affecting your everyday life, its time to find out if bankruptcy is an option for you. Contact a local and trusted bankruptcy firm and begin your journey to financial freedom.

Border Law is a trusted Consumer Debt Law Firm in Michigan that specializes in Chapter 7, Chapter 11, and Chapter 13 Bankruptcy as well as, any consumer debt, real estate or landlord-tenant matters. Our lawyers welcome the possibility to begin working on immediately stopping collection calls from debt collectors and home foreclosures. The emotional stress that surrounds these cases and deciding whether to file for bankruptcy is a very serious decision. You are not alone, call us today for your Free Consultation!