Going into bankruptcy can be a traumatic experience for many people. Some may feel that it is the end of the world for them. Pride and self-esteem may have taken a blow on some people having to admit that they are going bankrupt. But actually, there is life after bankruptcy and it will just be a matter of trying to survive it and get on with life.

Bankruptcy can actually help one to go on a fresh start. It is an option that people can take when they find themselves mired in debt that they can’t get out of. Filing for bankruptcy can help keep their outstanding debts more manageable. But it should be considered as the very last resort. One can only file for bankruptcy once every seven to ten years.

Filing for bankruptcy can deal a blow to one’s credit status or history. But there are ways that one can build up credit worthiness even after surviving bankruptcy. Here are some tips that will be quite helpful in building up one’s credit status after getting up from the ashes of bankruptcy.

Avoid credit applications for a year

This is will help prevent having additional credit inquiries into your credit history. If they find that you have recently filed for bankruptcy, you won’t find it encouraging enough to extend credit to you. And what’s more, having several credit inquiries into your credit history can actually harm your credit reputation and whatever remains of your credit score.

Begin establishing a good standing with a credit union

A credit union is a cooperative that extends credit to its members as well as other trusted clients. Credit unions may be the easiest means to obtain credit after filing for bankruptcy. But first you may have to open an account with a credit union.

It is also important that you try to maintain a good standing with your account on the credit union. Later on, it would be them who may be the first to extend you some credit that you may need.

Pay your current bills promptly

Just because you filed for bankruptcy doesn’t mean that you can go back to your old ways in delaying your bills payment. You should know better. Try to pay your bills promptly this time in order to avoid getting into the situation that led you to file for bankruptcy in the first place.

Keep credit in check

You may still have some outstanding debts to pay for after filing for bankruptcy. You may need to manage them wisely. Make sure that you try to keep all your current debt below 30 percent of your current income. This way you may be able to manage paying them as well as handle your other finances comfortably.