Life After Bankruptcy

Order Closing Case
Section 13 of "The Chapter 7 Bankruptcy Process"

The final step in a normal Chapter 7 bankruptcy proceeding is the Court's entry of the order closing the case. As discussed previously in this multi-part article, the entry of the order may happen several months, and in some cases, even years, after the bankruptcy discharge is granted.

It is not necessary to wait for the order closing the case to start moving forward with life after bankruptcy. You have probably heard the phrases that bankruptcy gives a person "a fresh start", "a clean slate", "a second chance".

However, what can you do to make life after bankruptcy better? After all, you do not want to make the same mistakes again - to be counting down the months until you can file bankruptcy again. Resolve to make the necessary changes now and to educate yourself regarding responsible ways to build credit.

By following a budget, paying all bills on time, not applying for too much credit all at once, and using only a small portion of your credit limit on existing cards, you will see gradual and consistent increases in your credit score. An improved credit score means that not only will you qualify for loans, such as auto or mortgage loans, but you will also qualify for better interest rates.

Life after bankruptcy should be better than the life you had before bankruptcy. To put things in perspective, I once read some good advice. Here it is:

Put God first, people second, money third, and all the things that money can buy - last.

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This page is Section 13 of the following 13-part article:

1. Introduction to Chapter 7 Bankruptcy
2. Investigate Alternatives
3. Attend Pre-Bankruptcy Credit Counseling
4. Select an Attorney
5. Attend Initial Consultation
6. Complete Bankruptcy Questionnaire
7. Finalize and Sign Bankruptcy Documents for Filing with Court
8. Prepare for and Attend Section 341 Meeting of Creditors
9. Attend Pre-Discharge Bankruptcy Education Course
10. Turn Over Nonexempt Assets to Case Trustee
11. Distribution of Nonexempt Assets to Creditors
12. Receive Discharge
13. Order Closing Case