Question by  tylerj72993 (21)

What do I need to know about getting out of bankruptcy?

I have declared bankruptcy but son;t know what to do next.


Answer by  turkinforalivin (1279)

A bankruptcy will fall of your record after seven years. In the meantime, you can begin rebuilding your credit by obtaining a secured credit card. Additionally, you can attempt to get small credit cards (less than a $100 limit) through retail outlets such as jewelery stores.


Answer by  Dorothea (6)

You can do many things to work on getting out of debt. The first thing one must do is work on paying down debts. If you have credit cards, after you pay your minimums each month, contribute all extra money to the one with the highest balance until it's paid.


Answer by  phoenix85 (366)

If you've declared bankruptcy, you should have a lawyer that you can discuss these things with. Your attorney will be able to tell you what will happen now. And if you don't have an attorney and are trying to do this yourself, I would advise against it.


Answer by  mem4dr (1378)

A bankruptcy court judge will dictate what you have to do next. If you have any questions, consult a good lawyer.


Answer by  holdengal (693)

The next thing, if you've already filed the paper work with the courts, is to contact all of your creditors. They must cease and desist and further action towards you. I also recommend hiring a bankruptcy lawyer. You are dealing with your financial future and it will save you a lot of headaches.

You have 50 words left!