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Can you guarantee an efficient recovery from bankruptcy?

If you have had to file for bankruptcy in Virginia, chances are you may be feeling a bit stressed and unsure of how you will recover and achieve a reliable financial foundation. Having to file for bankruptcy, while providing some relief from pressing debt, can also wreak havoc on your credit score and your ability to secure lending in the future. Fortunately, with a commitment to learning from your past, you can expedite your recovery and regain your footing. 

Perhaps the most important thing you can do is to sit down and take a good look at your past. What were the root causes of your downfall? Which financial habits may have contributed to your inability to repay your lenders without filing for bankruptcy? What can you do differently to avoid having to file for bankruptcy again? Acknowledging your mistakes and maybe even working with a financial professional to learn about optimal money management are critical to your ability to form new habits that will help you achieve your goals. 

According to Forbes, a couple of other helpful tips include the implementation of a credit monitoring service that can provide education about how to rebuild and maintain your credit score, as well as provide regular updates about the condition of your credit and any improvements that have been made. You can also apply for a credit card from a secure organization and be prompt about paying your bills in order to boost your credit score. 

The information in this article is intended for educational purposes only and should not be taken as legal advice. 

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