Goldman & Beslow LLC
East Orange: 973-677-9000
Paterson: 973-247-9445
Jersey City: 201-659-6226
Toll Free: 888-827-5493
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Life After Filing Bankruptcy

Bankruptcy may seem like the end of your financial life. Actually, it is a fresh, new beginning. Once you have wiped out your debt, you have the opportunity to rebuild your finances and your credit in a healthy, positive manner.

For many people, the idea of having "bad credit" can be terrifying. Unfortunately, if you are so far in debt that you need to file for bankruptcy, it is likely that your credit is already ruined. Filing for bankruptcy can actually improve your credit score. Once you are able to start paying your bills on time and show that you can be fiscally responsible, creditors will take notice.

Ways to rebuild your credit after your bankruptcy discharge include:

  • Pay all of your bills on time — This is particularly important as car loans, rent and home mortgage payments are tracked by credit bureaus. You can set up automatic payments for most or all of your bills so you don't forget to pay them.
  • Create a realistic budget and follow it — As difficult as this may be, tracking where every penny of your money goes can help you eliminate unnecessary expenses. Don't forget to set aside a little every month for savings.
  • Get a secured credit card — Banks offer a credit card where you pay them a certain amount of money and then that becomes your credit line. As you make purchases with that credit card, it helps to rebuild your credit. Beware of banks that charge exorbitant fees for these cards or that do not report these transactions to the credit bureaus.

For more ways to improve your credit after bankruptcy, we recommend this free report.

Effects to Your Credit

Bankruptcy stays on your credit report for 10 years. Bad credit stays on for seven years. Either way, there will be a "stain" on your record. However, you may find that if you pay all of your bills on time, shortly after your bankruptcy discharge, your credit score will skyrocket.

The emotions associated with bankruptcy can be difficult and turbulent. Understand that there really is life after filing bankruptcy and that our New Jersey bankruptcy lawyers are here to help.

Contact experienced personal bankruptcy attorneys with offices in Paterson, Jersey City and East Orange today to find the solutions to your financial problems. Call for a free consultation at 973-677-9000 or 888-827-5493.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.


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  • NACBA | National Association of Consumer Bankruptcy Attorneys
  • NACA | National Association of Consumer Advocates
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Goldman & Beslow LLC

Goldman & Beslow, LLC is a Federal Debt Relief Agency by an Act of Congress. We have proudly assisted consumers seeking relief under the U.S. Bankruptcy Code for over 38 years.

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7 Glenwood Avenue,
Suite 311B
East Orange, NJ 07017
East Orange Law Office

Phone: 973-414-8069
Phone: 973-419-7631
Phone: 973-419-5266
Phone: 201-205-2496
Toll Free: 888-827-5493
Fax: 973-675-5886
E-mail the firm

NEWARK OFFICE 168 Bloomfield Avenue
Newark, NJ 07104
Newark Law Office

Phone: 973-483-1333
Phone: 973-419-5266
Phone: 201-205-2496
Toll Free: 888-827-5493
E-mail the firm

PATERSON OFFICE 100 Hamilton Plaza,
Suite 405
Paterson, NJ 07510
Paterson Law Office

Phone: 973-247-9445
Phone: 973-419-5266
Phone: 201-205-2496
Toll Free: 888-827-5493
E-mail the firm

JERSEY CITY OFFICE 26 Journal Square,
Suite 603
Jersey City, NJ 07306
Jersey City Law Office

Phone: 201-659-6226
Phone: 973-419-5266
Phone: 201-205-2496
Toll Free: 888-827-5493
E-mail the firm

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