January 14,2007

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  A Fresh Start After Bankruptcy: Part 4 of 4

  It's a popular and tenacious misperception that bankruptcy is truly as "fresh start" in and of itself. Sure, it's the only way to rid yourself once and for all of the burden of crushing debt. However, bankruptcy carries stigma and prejudice long after the period of actual judgment has passed. This series offers steps by which smart consumers can assure that they do, in fact, get the clean start that bankruptcy can mean.
  
  The last step is a deceptively simple one – never, ever, carry a credit card balance again if you can help it. Old habits are hard to break, and the best way to avoid temptation is to stay away all together. Granted, you need lines of credit to keep your score up, but it is best to just not carry a balance. That way, if you find yourself in a true financial emergency – death, divorce, etc.- you will have the resources to bail yourself out. Get in the habit of making all purchases with cash, and never carrying over a balance on your plastic from month to month.
  
  
  
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