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Houston Bankruptcy: 4 Steps to Build a New Life

Build a New life

Houston Bankruptcy: 4 Steps to Build a New Life


Life after bankruptcy can be very difficult and this is quite normal. After all, you really can’t expect that everyone would approve all your financial requests right after you’ve declared to the whole world that you have gone bankrupt. It is a harsh reality that you need to live and deal with so you need to be strong. This will only happen in the beginning and with the right careful steps; you can easily overcome these hardships and finally live a happier, debt-free life. Here’s how.

Reassess Yourself

The first thing that you need to do is to carefully re-evaluate yourself. This means that you need to take the time and effort to reflect on certain things, like why did it come to this, what mistakes did you commit, how much money that you have left, and how emotional that you are now. Be completely honest about everything because this is the first real step of moving on without repeating this bad experience. In this process, know your faults, accept them, and make sure you change them by not repeating it.

Learn to Budget

Since you have very limited finances and almost all credit card companies wouldn’t want to associate their businesses with you, it is time that you start learning how to budget your money very carefully. If your monthly salary is 500 dollars, make sure you only spend 400 dollars from it while you save the remaining one hundred. Never spend more than you can afford. That’s what made you bankrupt in the first place. Make sure you allot your money to those that you need to pay first and not to the ones that you just want.

Observe your Credit Rating

After being discharged from your debts through a successful declaration of bankruptcy, your credit score will be very low. This is a small price to pay and you need to rebuild the trust of these financial establishments by knowing how these credit ratings work and what you can do to increase it. It will take time but with careful planning and budgeting, you can achieve a proper score that can enable you to acquire a credit card.

Get a Debit Card

Instead of getting a credit card, why don’t you acquire a debit or a secured card instead? This is a kind of card that would require you to deposit for as low as 500 dollars. Whatever amount you have deposited, that would automatically equal to the maximum withdrawal or credit limit. This will make you responsible and will teach you how to discipline yourself when it comes to spending.

Whether you have recently filed for Pearland bankruptcy or you’re already done with the whole ordeal, it is always wise to remember that this is a lesson that you must never forget. You’ve done a lot of mistakes in the past and it is time for you to change what you did by not doing it again in the future. If luck just isn’t on your side, not to worry because you will always have Houston bankruptcy lawyer that can assist you with this matter.

Please visit our website for more information about us and bankruptcy.

Call us today at (713) 974-1151 to schedule a no-obligation consultation or feel free to email us at [email protected].


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Michael Busby is a Houston divorce lawyer who has been in practice for over 20 years and appears daily in the Family Law Courts of Harris County and Fort Bend County Texas

Busby & Associates , have two Houston Offices, one in Chinatown, Houston Texas and another in Independent Heights, Houston, Texas. Michael Busby is Board Certified in Family law by the Texas Board of Legal Specialization.