Arizona residents faced with the difficult prospect of bankruptcy may be interested in some tips for rebuilding credit and recovering from the emotional toll that bankruptcy can take. Bankruptcy is meant to help someone overcome their debt. With time, support and some smart financial moves, it should be possible to ensure a smooth transition out of bankruptcy and into a brighter future.


The number of bankruptcy filings for the month of August in Arizona was approximately. This number is about 20 percent lower than August 2013.  However this amount is still much higher than before 2007.  With bankruptcy, there can be many negative feelings, such as shame and hopelessness. Some simple changes and advice can help to ease these feelings and assist in the recovery of those who have gone through personal bankruptcy.


The first thing to do on the road to recovery is to look at what led to bankruptcy in the first place. These behaviors may need to change, whether through budgeting or by changing jobs to earn more income. An assessment of current credit score information is important, as well as defining specific goals that will be striven for in recovery. Finding a new credit issuer and re-establishing a good credit score come next. This can be tricky, and unfair deals by predatory companies should be avoided. Lastly, some personal needs should be looked after, such as finding a support system that will alleviate the loneliness that some feel after bankruptcy and keeping a positive attitude toward a post-bankruptcy life.


The road to and after bankruptcy may be difficult, but there is help available for those who need it. An attorney familiar with personal bankruptcy may be able to help make the process go smoothly and offer counseling in how to properly file and move one with life afterwards.  If you are located in Arizona, call a Phoenix bankruptcy attorney today to let us show you how we can help.


Source: US News & World Report, “A Roadmap Out of Bankruptcy“, Kimberly Palmer, September 27, 2013