Step #1: Determine Your Average Monthly Income Step #2: Know Your Expenses Step #3: Create a Balanced Budget Step #4: Review Your Budget Regularly Step #5: Use a Technology to Help You Step #5: Use Technology to Help You By this time you’ve completed the “meat and potatoes” steps (Steps 1 through 3) that allow … Read more
Step #1: Determine Your Average Monthly Income Step #2: Know Your Expenses Step #3: Create a Balanced Budget Step #4: Review Your Budget Regularly Step #5: Use a Technology to Help You Step #4: Review Your Budget Regularly The first three steps in this series are really the “meat and potatoes” of creating a budget … Read more
Step #3: Create a Balanced Budget So far we have discussed the importance of getting accurate information for determining your income by reviewing at least the last several months of paystubs and we have discussed the incredibly important task of getting a “financially honest” expense report. The next step in putting together a successful budget after filing … Read more
In our last blog post we talked about the first step of budgeting after filing for bankruptcy, which was knowing your income. I mentioned in that post that I believed determining your income was the easiest of the five steps in building your budget. Unfortunately, I think the second step, knowing your expenses, is the … Read more
As a bankruptcy law firm we have filed thousands of bankruptcies for people all across North Carolina. During our years of experience we have seen almost every scenario you can imagine that would lead to someone having to file bankruptcy – whether it is a sudden illness with unexpected medial expenses, loss of a job, … Read more
This is a question we are asked all the time. Each bankruptcy attorney probably has his or her own opinion on which type of bankruptcy is best for your credit report. After filing thousands of bankruptcies over the years, we don’t believe that there is that much, if any, of a difference between a Chapter … Read more
“Rebuilding Your Credit After Bankruptcy in 6 Steps” is a series of posts that will appear over the course of the next couple of weeks. Following these 6 steps will help you lay the foundation to achieve better credit. Here are the six steps: Step #1: Review Your Credit Reports Step #2: Get a Secured Credit … Read more
“Rebuilding Your Credit After Bankruptcy in 6 Steps” is a series of posts that will appear over the course of the next couple of weeks. Following these 6 steps will help you lay the foundation to achieve better credit. Here are the six steps: Step #1: Review Your Credit Reports Step #2: Get a Secured Credit … Read more
I’m sure you never thought this would be the case but this is the easiest step of them all. If you’ve followed the three steps before this you should have cleaned up your credit report, spent a year laying the foundation for your new credit with a secured credit card and now you should have obtained a reasonable unsecured credit card.
After you’ve spent time laying the foundation for your new credit by using a secured credit card you will want to begin looking for an unsecured credit card. An unsecured credit card is a card where you do not put up collateral (cash, automobiles, etc.) as an assurance that you will pay. We typically recommend that you use a secured credit card for at least one year before moving on to an unsecured card.
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