• FREE CONSULTATIONS +1 305-676-7545
  • info@alonsoperezlaw.com

Rebuilding After Bankruptcy

  • Rebuilding After Bankruptcy

    debtReliefChoosing to file for bankruptcy is a major life decision, and once you’ve filed you may feel like there is no hope in terms of recovering from your financial situation. It may be tough, but it’s not impossible if you set your mind to it and make some small adjustments to your lifestyle.

    You can start by taking a look at your income and expenses and coming up with a realistic budget. Determine how much you’ll need in every category (car payment, dining out, phone, etc) and stick to it by never spending more than the amount you’ve written down. Your monthly budget should never exceed your monthly income and you should account for every single penny so that you’re not tempted to purchase impulsively. Speaking of dining out, this category along with entertainment should be the smallest and should only be set once all fixed expenses have been paid and money has been put aside towards savings.

    Having an emergency savings account is imperative, and this will be determined by your income and expenses. Generally, it’s wise to put aside ten percent of your monthly income in case of a rainy day so that you don’t find yourself having to borrow money.

    Speaking of income, if your current income isn’t enough to cover what you need, you’ll need to reduce your bills or consider other sources of income. This doesn’t necessarily mean getting another full-time job. Online writing jobs, babysitting, selling your own crafts, all of these can help bring in that extra money so that you’ll have room to breathe.

    As for your bills, do you need cable television? Would it be wiser to watch Netflix instead of spending money on movie tickets? See where you can cut costs, but do treat yourself sparingly here and there. Life isn’t all about just paying bills.

    This information is provided by Miami bankruptcy lawyer Alonso, Perez & Santos, LLP.  Our areas of practice include bankruptcy, insurance litigation, debt harassment, credit card defense, foreclosure defense, immigration law, condominium law, business start-ups, and more.  Call 305-676-7545 to speak with one of our attorneys and receive a free consultation including a Miami insurance attorney.  We look forward to working with you.

    This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.

    FacebookTwitterGoogle+LinkedInShare

    Leave a comment

    Required fields are marked *

← Prev Step

Thank you for contacting AP&S. We'll get back to you as soon as we can.

Please provide a valid name, email, and question.

Powered by LivelyChat