Personal bankruptcy has helped millions of Americans restore their financial health and leave their debt problems behind. Life immediately after bankruptcy, though, does have some challenges.
One of the potential challenges is opening a checking account after bankruptcy. Such a maneuver, though, is entirely possible for many people. Taking a few credit-rebuilding steps after bankruptcy will help you begin to restore your credibility with your bank.
In order to open a checking account after filing bankruptcy, you may have to do a bit of homework before approaching your bank. Here are a few steps that take many in their efforts to open a checking account:
Obtaining a checking account after bankruptcy is very important because it allows you to have a stable place to keep your hard-earned money, as well as a way to pay your bills on time.
With a little perseverance and careful planning, you may be able to find a bank willing to help you restart your financial life.
One important part of life after bankruptcy is rebuilding credit. By restoring the health of your credit score, you'll also be a more attractive candidate for checking accounts and credit cards. Listed below are a few steps that many use to improve credit:
These tactics may sound overly simple, but rebuilding credit is not necessarily a complicated task. Opening new lines of credit, such as phone and utility bills, and paying them on time may show trustworthiness to creditors.
After you've regained the trust of creditors, you may be able to take out loans for important purchases, such as homes and cars.