Rebuilding credit after bankruptcy and contributing to your savings account doesn’t have to be mutually exclusive. Rebuilding credit is NOT for the purpose of incurring more debt. The purpose of rebuilding credit is to achieve FUTURE financial goals and making your payment more manageable by reducing your interest rate. Reduce your interest rate, build your credit, and reduce stress. 


“It’s not your salary that makes you rich, it’s your spending habits.” 

-Charles A. Jaffe


Finally Create that Emergency Fund

If you have an emergency fund when those unexpected expenses that life throws at you won’t be forced to ruin any credit that you’ve rebuilt since your bankruptcy. It’s ok to start small with your emergency fund, but for peace of mind knowing that you have a backup plan when unexpected costs arise will save you a lot of agony when it happens.

Build New Habits (And stick to them!)

Break free from old routines that got you into debt in the first place. Change your mindset about your finances or else you can find yourself falling into the same path of debt, and ruin the time that you’ve spent rebuilding your credit.


Don’t jump into rebuilding your credit too quickly. Make sure that you create a realistic budget and can work with it while avoiding borrowing to pay for expenses. Taking on a new debt without a plan on how you’re going to pay it off defeats the purpose of filing for bankruptcy in the first place.

Better Safe Than Sorry – Obtain Credit the Right Way

Avoid getting multiple credit cards. Rethink the way you use your card. The purpose of using credit is to rebuild your credit score, not rely on it for purchases, especially purchases that you know you can’t pay back.

Keep the Card at Home

Only use credit to make payments that you have ALREADY budgeted for. Don’t take your time to pay off the amount in full either. As soon as the bill arrives pay it off and avoid the temptation to borrow money by leaving the card at home and only using the cash that you have.


Call us at 604-291-9151 to book a FREE consultation with our team.