Bankruptcy is something that could happen to anybody. One of the causes of bankruptcy is carelessness in our finances. There are times when we do not follow our budget. We try to accommodate unnecessary expenses just to finance our lifestyle and buy what we want not what we need. In view of this, our expenses will have the tendency to get bigger unexpectedly. And surely it will have a great effect to our financial capability.

Many years ago, any person would be heavily penalized or sometimes a harsh jail sentence if he could pay his debts. At present, you are still given a chance to reestablish your credibility as a borrower. Remember, you are not the first person to have debts and at the same time not the last. To be bankrupt is indeed a lesson we could learn from because there is no such thing as a mistake that’s done twice.

To make a fast recovery from bankruptcy, you need to consult your lawyer. Tell him about your financial situation and what really happened. Be open to him regarding your credit and the list of your creditors. You could also make use the services of a credit counselor for a comprehensive assessment of your problem.

There are creditors who are willing to offer credit in order to help people regain their financial status in life. They offer credit, loans and mortgages. For them bankruptcy is not only due to a person’s unreliability. We can not deny the fact that healthcare and education payments are very expensive. Hence, we should thank these creditors who will still trust and believe in us.

In order to regain what was lost from bankruptcy, we need to have the following two reminders.

1. That there is no such thing as forever in credit, secure and use a credit in order to reconstruct your credit status.

2. There are no mistakes but lessons to learn, examine and evaluate your credit report, be sure to have a credit card that is protected, apply for an installment loan, be a member of a credit union.

For our purpose of discussion, let us focus our attention on having a credit card that is protected. There are two kinds of credit so as to reconstruct our credit score.

1. Installment basis like for example auto loans, student loans and mortgages.

2. Revolving credit which includes home equity lines of credit and credit cards.

Let us discuss the installment type of credit. Among the loans mentioned, the easiest way to obtain is a mortgage loan. There are some people who do not consider a mortgage loan as the answer to their bankruptcy. However, there are a lot of people who were able to avail of the loan even one day after bankruptcy. Although it will take us about twelve months of waiting, at least we will be able to get a mortgage loan. Be ready to accept unfavorable terms which will be advantageous to the creditor.

Here are some tips in order to have a quick credit recovery and the desired mortgage after bankruptcy services.

· Be faithful in the payment of your home and cars which were discharged in the bankruptcy.

· Put some limits in your debts like the bank loans and credit cards.

· Give the necessary documents to your loan consultant.

· You should not be frustrated if your loan application was not approved. Just be patient.

There are other alternatives that can help you build your credit after bankruptcy. Be sure to consider the many resources online to help you get your financial life back in order.