If you have filed for bankruptcy and don’t know how you will recover from this financial hurdle, don’t fret. It is completely normal to feel despair after such a stressful ordeal. However, here at Australian Bankruptcy Services, we know that there is life after bankruptcy. Here are some of our tips to rebuild your credit file after bankruptcy.

 

Open A New Savings Account

When opening a new savings account, make sure you compare the interest rates and fees from different banks and credit unions. Not only will this will help you get the best return on your savings, it will also put you in a good position in case of emergencies or unexpected events and as such you should not be reliant on credit.

 

Pay Your Bills on Time

A common slippery slope for people who slide back into insolvency is by paying their bills late and incurring late fees as a result. Set up direct debits so that your bills are automatically paid on time.  This will reduce the stress and burden of paying your bills and will also save you money in the future.

 

Get Copies of Your Credit Report

Check your credit report (free if you check once a year) so that you can monitor your progress.

To request a copy of your credit report contact these national CRBs:

 

Equifax (formerly Veda): mycreditfile.com.au

Phone: 1300 762 207

 

illion (formerly D&B): checkyourcredit.com.au

Phone: 1300 734 806

 

Experian: experian.com.au

Phone: 1300 783 684

If you are considering bankruptcy, know that there is life and hope afterwards! Give Australian Bankruptcy Services a call today on 1800 462 767 so we can help you to rebuild your financial future.