Starting Over after Bankruptcy in San Diego & Riverside County

Chula Vista, Escondido, Carlsbad and all communities in between

After your initial feeling of relief following a bankruptcy declaration, you may begin to have fears about the future. While you may understand and acknowledge the benefits of filing for bankruptcy, perhaps you worry that you will make the same mistakes you initially made and wind up in severe financial debt once again.

At Chang & Diamond, APC, our service to you is comprehensive. We represent your interests through every step of the bankruptcy process. That is why we provide sound legal counsel after you have declared bankruptcy. Contact our attorneys today.

A Formula for Better Credit

If you want to start over successfully after declaring bankruptcy, we believe that the best way is to begin establishing good credit to increase your credit score. Responsible saving and spending will help you achieve this. The formula is simple: since your credit is directly related to income and expenses, you need to increase your income and lower your expenses.

Increasing Income

While our bankruptcy attorneys are not career counselors, they do understand the need to increase your income. Whether you negotiate a higher wage at work, take on extra responsibilities, apply for a promotion, or seek a better-paying job, earning more will allow you to pay bills in a timely manner and not rely upon credit to make ends meet.

We advise our clients to never rely upon credit cards as an extension of income. To establish good credit once again, we advise clients to get a low line of credit and use such credit cards on an installment basis.

Lowering Expenses

The best way to avoid reliance on credit cards is to lower your monthly expenses. Create a budget that allows you to live within your means and avoid falling prey to banks and creditors. Banks and creditors offer tempting promotional offers so you are lulled into false sense of security, disregarding the fact that some contracts state that your interest rate can go up should you miss a single payment.

If you already have a varied rate mortgage, a wise move could be to switch to a fixed rate mortgage and avoid fluctuations in interest rates and subsequent debt. If you are already in debt, we advise you make changes to your lifestyle. Downsize to a smaller home or a less expensive car and stop buying things that are not essential to you.

If you would like to discuss how our lawyers can help you emerge from bankruptcy, contact Chang & Diamond, APC, today and schedule a free initial consultation. We have helped numerous clients take the necessary steps to become financially responsible.