Is it really necessary to go through credit counseling post bankruptcy?

Did you already file bankruptcy due to mismanagement of your personal finances? Just as you need to go through consumer credit counseling before bankruptcy, you also need to go through it after you’ve done with the process. The new bankruptcy laws enacted in 2005 holds this as a pre-requisite before going through the entire process. You may be wondering the need of getting help from a credit counselor after you’ve filed bankruptcy. Well, when you’re a bankrupt, it is most obvious that you’ll have exhausted all your financial capabilities. When you’re going through a sluggish financial state, wouldn’t you love to get financial help from a professional and trained credit counselor? Here are some reasons of taking help of consumer credit counseling agencies.

 

  • You get back the lost hope in yourself: When you’re filing bankruptcy, it is most obvious that you’ve lost all confidence in your self and therefore you’re looking for a ray of hope. During such a time, some inspiring words from an expert financial advisor can bring back a breathing space in life. Regardless of whether you have filed Chapter 7 or Chapter 13 bankruptcy, you need to build a viable financial nest so that you can easily lead a debt free life.

 

  • You may know how to improve your credit score: Another thing that you can improve on is to boost your credit score. It is most obvious that bankruptcy will trash your credit score and stay on your report as a blotch till the next 7-10 years. Therefore, you must immediately take the needed steps in order to improve your credit score so that you’re not turned down by your lenders seeing that you’re a bankrupt. The consumer credit counselor will teach you the ways in which you can regain the lost control over your credit score.

 

  • You can change your financial habits: Once you’ve filed bankruptcy, it is very necessary for you to ensure that you change your financial habits so that you don’t incur further debts on your credit cards. You should be aware of the fact that you had to file bankruptcy just because of your irresponsible financial behavior and if you don’t improve on this, you can easily push yourself towards a mess.

 

Therefore, when you’re worried about getting back in the right financial track even after filing for bankruptcy, you can get help from a credit counselor. Look for help from a non-profit credit counseling agency so that you can trust the results.