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Bouncing Back After Bankruptcy

Bouncing Back After Bankruptcy

Bouncing Back After Bankruptcy

One of the most common questions that every San Antonio bankruptcy attorney has undoubtedly heard from their clients at some point in time is how are you supposed to bounce back after your bankruptcy? A good San Antonio bankruptcy attorney's job does not stop just because the papers have been filed. If a San Antonio bankruptcy attorney truly cares about the financial rehabilitation of his or her clients then they will help assist in the recovery process after the bankruptcy is discharged. So often people are left on their own to make the same mistakes that lead them to file for bankruptcy in the first place. Now some people might naturally learn from their mistakes on their own but for others, it is just not that simple. Once you decide that you can handle easing back into the credit card game, you should be realistic about this process. So that you do not take on more than you can handle, you should start with one credit card. Choose this card wisely, meaning making sure that there is no annual fee and the interest rate is not too high. At the same time though, you must realize that you may not be able to get everything you want when you are just coming off of a bankruptcy. Credit card companies may be hesitant or reluctant to extend credit to you. Even when credit is extended to you, it may not necessarily be what you had hoped for or expected. You may only be granted a small to moderate credit line along with an insulting or offensive interest rate if your credit line is only $200, make the most of it. Do not go over your credit limit and pay it off in full each month. If you do that then the interest rate will not be an issue for you at all. Over time, when the credit card company sees just how responsibly you have managed your account then they may consider you for a credit line increase or a lower interest rate.
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