February 7th, 2012 by Reed Allmand 
After you’ve successfully filed for your Dallas bankruptcy, you may feel like the last thing you want to do is touch a credit card or consider taking out a loan. Besides, the whole reason why you had to file for a Chapter 7 or Chapter 13 bankruptcy is because of credit cards and loans in the first place – so it makes sense to never deal with them again…
Right?
Actually, you’ll discover that many of the steps to get back on track after a Dallas bankruptcy involve credit cards and loans. Take a look at what we mean:
1. Believe it or not, the most important thing to do to get back on track after a bankruptcy involves taking out a credit card. Having an open line of credit can give your credit rating a significant jump-start after six to nine months – and if you make payments faithfully, you can accelerate your score. You may not be able to get traditional cards, so take out what’s known as a “secured” credit card. You’ll need to put down a deposit as collateral, which will be used as the balance limit. Using this card responsibly should help you get back on track after bankruptcy faster.
2. Order your credit score and take a close look at the debts that were discharged through your Dallas bankruptcy. If any of those debts are mistakenly reported as open, it could continue to drag down your credit score long after your bankruptcy drops off. If you catch these mistakes, alert the credit reporting agencies in writing so they can address and fix the errors.
3. Build up an emergency fund. As you may have already discovered, many bankruptcies are caused by financial emergencies, such as car accidents or medical bills (new figures estimate that almost 70% of all bankruptcies are a result of medical debts). Even if you tuck aside $100 a month, you’ll have enough of a nest egg to help handle any future financial emergencies.
4. Finally, remember that a Dallas bankruptcy is not forever. While it formally stays on your credit score for seven to ten years, you’ll often find that a few years of financial responsibility will make you a viable prospect for lenders again.
You will be able to start over with a clean financial slate, so it’s no wonder a bankruptcy can give you a full lease on life again!
About Reed Allmand
Allmand's vision is rooted in his own financially precarious childhood in Abilene "My father always had difficulty holding a job and supporting our family, so after my parents divorced when I was 12, my sister and I got jobs to help make ends meet," he recalls. "I remember what it felt like as a child to worry that our car would be repossessed or home foreclosed on."
View all posts by Reed AllmandSubscribe
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