Mar
15
The Best Way To Survive A Bankruptcy
Filed Under Advice
Bankruptcy is a very serious last resort. The best way to avoid the long term ramifications of filing for bankruptcy is simple: Don’t file for bankruptcy! Of course for some people it is already too late. Bankruptcy is always a last resort, but that is all that it ever will be. The best thing you can do is follow some simple tips and get yourself out of the hole before it is too late.
First of all, just stop using your credit cards. Is it that hard? No, it is not. The idea here is that you should not be spending money that you don’t have. Isn’t that kind of what got you in this position in the first place? Cut those little demons in half. Or better yet, send those plastic devils right through a paper shredder!
Once you have gotten rid of those pesky credit cards, formulate a budget. No, it is not that hard to do. Start by putting a pencil to paper and writing down your monthly expenses that you can’t get rid of. Write down everything such as your rent or mortgage, electric bill, car payment, water bill, groceries, cable bill and everything else you can come up with. Then go back and add the incidentals like clothing, car repairs or maintenance, gas and anything else you can come up with. You see, it is not that hard to get a handle on things. And that could keep you from having to file bankruptcy.
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3 Responses to “The Best Way To Survive A Bankruptcy”
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I have really tried cutting down on credit cards and only using them when absolutely necessary, then paying them off as soon as I can. I hope to be debt free in about 3 years.
We are going through the toughest times economically i have ever seen. I have a had few family members and friends lose thier house in the past year. It makes very sad to see this happen to people i love.
Budgets are great. You must stick to one in order to be successful. I would also recommend only having one or two credit cards to be used for true emergencies.