Making a Fresh Start after Bankruptcy

Bankruptcy is no longer carries a negative stigma as debt has forced many individuals into bankruptcy.

2012-07-22

July 22, 2012 (Press-News.org) In today's economy, more and more people overwhelmed by debt are choosing to file for bankruptcy. Although bankruptcy has historically carried a negative stigma, that view is changing. Bankruptcy may better be explained as a fresh start, a new beginning that allows people to move forward with burdens lifted from their shoulders.

Rebuilding credit is crucial for those who have recently emerged from bankruptcy. Good spending and credit habits as well as wise money management can make it easier to get on the right path.

Maintain Gainful Employment

Employment may not be the first thing that comes to mind when trying to regain credit after filing for bankruptcy. However, the longer the amount of time spent working at a job, the easier it is to obtain new credit. Sticking with a current job or deciding on a job and then remaining there proves essential.

Purchase a Secured Credit Card

With a secured credit card, money is deposited in the card's account, and the credit limit for the card becomes that deposited amount. This differs from a debit card because it allows credit to rebuild, and it counts toward a credit history. It also protects against spending more money than is available. Steady use of a secured credit card, and possibly a gas company or department store card, can increase one's credit score and ability to obtain credit.

Pay Existing Debt

Finally, paying off existing debt helps to rebuild a credit rating. Loan installments should be paid on time and become particularly important with secured loans. Each on-time monthly payment can increase a credit score.

If you are in dire financial straits and are seeking a way out, contact a knowledgeable bankruptcy attorney to discuss your options and whether filing for bankruptcy is right for you.

Article provided by The Law Office of Marcus L. Vanover PSC
Visit us at http://www.vanoverlawoffice.net

ELSE PRESS RELEASES FROM THIS DATE:

An Oregon Divorce Will Impact Finances

2012-07-22

Psychologists report that divorce is one of the most stressful events that a person can experience. Divorce affects not only people's emotional and social situations, but it also has a deep impact on people's finances. The cost of divorce varies because of how people's situations differ, but those thinking of divorce should be aware of the variety of ways that divorce could affect them financially. Living Expenses One of the most immediately recognizable financial shifts after a couple splits is the need to maintain two households where there used to be one. Bills ...

Motorcycle Accident Fatality Rate Remains High

2012-07-22

This year's Rolling Thunder event, which recognized the contribution of American veterans, drew approximately 100,000 motorcyclists to Washington, D.C. and the surrounding area. The presence of so many motorcycles on Maryland roads serves as a timely reminder that motorcycling is not as safe an activity as it could be. The discouraging news is that while traffic deaths overall are on the decline, deaths from motorcycle accidents remain steady. In the first nine months of last year, 3,580 people died in bike crashes, and 4,000 deaths for the year is projected. The Governors ...

Distracted Driving Is a Menace on Maryland Roads

2012-07-22

Maryland drivers need to be aware that distracted driving is a killer. According to government reports, more than 3,000 people died nationally in 2010 in motor vehicle accidents in which a distracted driver was involved, and approximately 416,000 were injured. Accidents involving distracted driving comprise almost one-fifth of the accidents in the U.S. that result in injury. Distraction can be anything that takes a driver's attention away from the road. Examples include talking with passengers, eating and drinking, and using electronic devices. Texting while driving ...

R. Blake TenBarge Joins Hospice of Michigan as Southwestern Region Marketing Representative

2012-07-22

R. Blake TenBarge has joined Hospice of Michigan's growing marketing team as the marketing representative for the Southwest region. In this role, TenBarge joins a statewide marketing team of 13 individuals responsible for all HOM marketing activities in the Lower Peninsula. His duties will include developing and maintaining professional relationships between HOM and its referral sources in the Southwest, including hospitals, long-term care facilities, physicians, managed-care organizations, independent medical clinics and other types of senior housing. Prior to joining ...

RTA Cabinets Los Angeles Give A Picture Perfect Home

2012-07-22

Cabinets are clever spaces for storage that look great and hide lots of things that would look ugly if left lying around. There are many kinds of cabinets. There are open cabinets and closed ones. The closed cabinets may have doors that open or doors that slide. Cabinets come in many materials. There is wood, plastic, chipboard and other materials that make up cabinets. Cabinets also come in many different colors, which include many shades of wood or may also be colorful plastics. There is great variety in how cabinets can be. Cabinets are usually thought to be in the ...

Super Bowl Champion to Open Beef 'O' Brady's in Starkville

2012-07-22

Beef 'O' Brady's announced today the signing of its newest teammate, Cincinnati Bengals tight end and Super Bowl ring holder, Donald Lee. Lee, a native of Maben, MS and former standout football player for the Mississippi State Bulldogs, will open a new Beef O Brady's 2.0 prototype restaurant in November 2012 at 1205 Stark Road in Starkville, MS. "While football has always been my first love, I've been interested in entrepreneurship as long as I can remember," said Lee. "Beef's is all about great food, sports and getting involved in the community. When ...

Bayer CropScience Inaugurates new Greenhouse for Research and Development in Research Triangle Park, North Carolina

2012-07-22

Bayer CropScience celebrates the opening of its newest research facility: a 3-story, 60,000 square foot greenhouse that will be used for soy, corn and other broadacre crop research. The Company invested USD 20 million for the new BioScience greenhouse in Research Triangle Park, North Carolina. Through research and development initiatives, scientists will grow solutions to meet the world's increasing demand for food and more productive farmlands. Bayer Board of Management member Professor Dr. Wolfgang Plischke; N.C. Secretary of Commerce Keith Crisco; and Dr. Richard Reich, ...

CheapHumidors.com Announces Proceeds of Rush Processing to Be Used to Send Cigars to Troops

2012-07-22

Dave Sabot, President of CheapHumidors.com, announced that, during the month of July, proceeds generated from rush processing fees will be used to purchase and ship cigars to troops stationed overseas. Dave's cigars for troops cause coincides with the celebration of the Fourth of July holiday. Mr. Sabot is most excited about being able to bring some of the comforts of home to those who are on deployment in Afghanistan, Iraq and other countries, "It feels good to be able to support those men and women who face danger on a daily basis in the name of protecting the ...

Drought Damages Buildings' Foundations

2012-07-22

Scorching hot weather and drought can create serious problems for a building's foundation. And the problems begin with the soil. The amount of moisture in the soil plays a role in the foundation's health and stability. Soil shrinkage is a contributor to foundation problems, and is caused by a drought, heat wave or an extended dry period. As the moisture is removed from the soil it shrinks, pulling away from the foundation. This leaves room for movement and settlement which can cause cracks in the home's brick, concrete or block foundation. To determine if a building ...

Tax Defense Network Explains How to Deal with a Back Tax Debt

2012-07-22

Tax Defense Network knows that the resolution of back tax debt is stressful for taxpayers precisely because it requires an in-depth knowledge of the US tax code and various tax laws. IRS payment programs were created for the different financial conditions of taxpayers. Every taxpayer with tax debt needs to choose the most suitable IRS tax debt payment program for them. Tax Defense Network looks at ways to best deal with a back tax debt. Tax Defense Network explains that the IRS charges a penalty to taxpayers who apply for an IRS program that they do not qualify for. ...

1 in 3 university students surveyed from a Parisian suburb report being unable to access desired food, with this food insecurity associated with academic dropout

Researchers uncover oldest 3D burrow systems in Hubei's Shibantan Biota

Discovery of a new principle: chiral molecules adhere to magnets

[Press-News.org] Making a Fresh Start after Bankruptcy
Bankruptcy is no longer carries a negative stigma as debt has forced many individuals into bankruptcy.

Making a Fresh Start after Bankruptcy

ELSE PRESS RELEASES FROM THIS DATE:

LAST 30 PRESS RELEASES: