Once it is done, you can get started in recovering your finances. It’s not the end of the world. In fact, many people bounce back from it quickly. After 2 years, 65% of those who have previously filed bankruptcy have improved their credit score significantly. After 3 years, they can already apply for a mortgage loan.

Here are the things that you can do:

1. Get a secured credit line.

Secured credit is tied to an asset. In most cases, the bank will ask you to give a set amount for the deposit. That is going to be the limit of the card. You should maintain a charge of no more than 20% of the credit that is available to you. Use it for small expenses like a subscription.

2. Keep your finances in check.

Build your finances and make sure that you don’t get in the same situation you were once in. If the reason you got into bankruptcy is because of overspending, you should take active measures to prevent that from happening.

3. Check your credit report.

This will help you figure out ways to improve your credit score.

It’s not going to happen overnight. However, with dedication, you should be able to turn your life around. You can still strengthen your finances even after filing for bankruptcy.

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