As a Dallas bankruptcy attorney, I find that many people leave bankruptcy with little knowledge of what to do next. Obtaining a fresh start is great, but knowing where to go and what steps to take next are crucial for financial success after exiting bankruptcy.

Organize Your Documents

The best thing anyone can do after leaving bankruptcy is to have all of their documentation organized and stored in a safe place. It is safe to assume that you may need to reference this paperwork anytime for the next 7 to 10 years. Be sure to keep your discharge information, copies of any court orders or any debt satisfaction letters from creditors. These documents will be important in your future endeavors. For example, a creditor may come calling after your bankruptcy case closes. Having a copy of the discharge order can put this type of harassment to an end quickly.

Check Your Credit

One thing most people fail to do after a bankruptcy is check their credit report. It isn’t uncommon to find mistakes or inaccuracies on your credit report after bankruptcy. Not all creditors are anxious to report your discharge to the credit bureaus and may not do so until it is convenient to them. If you find any inaccuracies, contact your creditor right away to request the changes to be made and most up to date information to be reported as soon as possible. All credit card accounts should now show a zero balance.

Consider New Credit Accounts

Now that the bankruptcy is behind you there is a chance to start fresh with your credit history. One way to begin repairing your credit is to acquire a small, low limit line of credit. Keep a manageable balance and make timely payments over a series of 6 months to a year. Once you have established a good track record, you may begin taking on another line of credit or ones with a higher limit. However, remember to use the principals learned in credit counseling to ensure you don’t end up in financial trouble down the road. The bottom line is live within your means and don’t bite off more than you can chew.