Filing bankruptcy is a powerful tool you can use to get free of debt and give yourself a fresh financial start. Part of this is the opportunity to repair your credit going forward. While your credit will take an initial hit right after filing, there are many ways to restore it. Bankruptcy stays on your record for 10 years in most cases. If you don’t take action to increase your credit score during this time, you might find it difficult to lease an apartment or buy a car. It is important that you move as soon as possible to start restoring your credit after you file bankruptcy.
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If you file bankruptcy in Jacksonville, consider why you had to in the first place. Was it due to overspending? Medical expenses? Loss of employment? Figuring out the cause of your situation will help you in making an effective plan moving forward. After figuring that out, create a budget to keep track of your expenses. This will help you avoid unnecessary spending that will hinder your goals of credit restoration. When you have a solid budget in place, get free annual credit checks to keep track of your score.