Debt can be a burden, both financially and emotionally. It can be difficult to get ahead when you're constantly making payments on loans and credit cards. And if you fall behind, you may be facing collection calls, lawsuits, and even bankruptcy.
If you're considering bankruptcy, it's important to weigh the pros and cons carefully. One of the most important factors to consider is whether you can stay debt-free after bankruptcy.
How to stay debt-free:
Create a budget. This will help you track your income and expenses, so you can see where your money is going. Once you know where your money is going, you can make changes to save more and spend less. Once you're debt-free, it's important to avoid taking on new debt unless necessary. If you do need to borrow money, be sure to shop around for the best interest rates and terms.
How to stay debt-free after bankruptcy:
Create a budget and stick to it. This will help you avoid overspending and getting into debt again.
Pay your bills on time and in full each month. This will help you rebuild your credit score. Avoid using credit cards unless necessary. If you do use credit cards, be sure to pay off your balance in full each month. Save money for unexpected expenses. This will help you avoid having to borrow money if something goes wrong. Staying debt-free can be challenging, but it's worth it in the long run.
Our Kansas City bankruptcy lawyer and law firm want you to succeed after filing for bankruptcy and we'll do everything in our power to make that happen, so you can get back on track financially. Give us a call at 816-842-6200 to speak with an attorney about your financial situation, or contact us online to schedule your free consultation.