Making Automatic Debt Payments after Bankruptcy

: Reese Baker & Associates

  Filed under: Credit, Money Management

chapter 13, repayment, trustee, court, bankruptcy attorney houston, texas bankruptcy lawyers, attorney, lawyer, attorneys, lawyers, College Station, Bryan, Houston, Texas, TX, lawyers in houston, bankruptcy attorney,Many people who have faced the travails of seeking protection through bankruptcy struggle mightily after discharge to find a way of rebuilding their credit and getting back to a place where they are able to re-establish themselves financially.

One of the ways they seek to do this is to use the option of automatic debt repayment plans to ensure that they never again miss a payment which can result in a negative credit report. While the idea of ensuring that you always make your payments is a great idea and one that cannot be faulted there are other things to consider when choosing this as a route to do that.

One of the most important factors to consider is that when using this option you are forced to always keep track of your finances (which is not necessarily a bad thing) in order to be certain that you have sufficient funds to cover those bills. For those who choose to use a credit card to fulfill bill payment obligations you also have to fully understand exactly how much you are accruing in order to avoid further debt trouble especially after a bankruptcy discharge.

The other thing to consider is that at times it can be very difficult to stop automatic payments once they have been started. Be absolutely sure to read all of the fine print from every site that you choose to use for auto payments. After weighing all the options you may decide that auto payments are the right choice for you or that another option may make more sense. Do your homework before deciding what option is right for you and your family. Also, follow any advice your Houston bankruptcy attorney gave you regarding post bankruptcy.