Nobody wants to spend too much time thinking about what might happen if they go through bankruptcy. However, that is something that happens to thousands of Americans every single year. Indeed, there is more information about the process available online than ever before. So, anyone who finds themselves in that position just needs to conduct as much research as possible. The tips in this article are for individuals who’ve been through bankruptcy, and who now need to get things back on track. 
Getting a bank account
Depending on the stipulations put in place by the bankruptcy deal, most individuals will have to close their bank accounts at the end of the process. In some instances, those people are barred from opening another account for a few years. When that happens, the person has to ask a friend or family member to accept any salary payments on their behalf. However, there are lots of banks out there that provide specialist accounts to those who’ve been through bankruptcy. So, anyone who needs a new card should:
  • Research suitable providers online
  • Use comparison websites to identify the best accounts
Building a credit score
It can take years for someone to get credit once they go through bankruptcy. However, there are certain methods anyone can use to improve their score. For instance, some credit card companies offer accounts to almost anyone. They charge high rates of interest, and so it’s not sensible to spend too much. Still, buying a few items on the card and paying the balance in full will help to improve credit ratings. Also, specialists like those working from could assist in that situation. It’s just a case of speaking to as many experts as possible and creating a plan. 
Finding somewhere to live
The biggest issue most people face after bankruptcy relates to finding somewhere to live. Most individuals will lose all their assets during the process, and that includes their home. According to, agencies perform credit checks when leasing properties to tenants, and bankrupt candidates will always fail. With that in mind, anyone who’s struggling to find somewhere to rest their head at night should:
  • Save enough money to pay six months rent in advance
  • Ask a family member to sign the contract as a guarantor
It’s often possible to find real estate agencies willing to make an exception if the individual uses one or more of those tips. 
There is no getting away from the fact that bankruptcy will cause many problems and create a lot of stress for everyone involved. The important thing to remember is that there are always methods people can use to turn things around. It just might take a few years before individuals in that position manage to reach a level of normality. Readers who are about to start the bankruptcy process should book an appointment to see a financial advisor as soon as possible. Specialists in that profession will take a look at the situation and offer suggestions on the best route forwards.

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