after fully completing a consumerproposal or receiving a discharge for bankruptcy it is important to startimmediately rebuilding credit here is our foolproof three-step plan to rebuildcredit step 1 create good habits of discipline and self-controlbefore you start rebuilding your credit score after bankruptcy or consumerproposal you must create good habits of discipline and self-control a lack ofthese habits might have been partly responsible for your current situationso working on changing bad habits and creating new ones will lay thegroundwork for a successful financial future learn discipline throughbudgeting the first step in rebuilding your credit includes learning how tocreate a budget and then sticking to it is the most important step of rebuildingcredit after bankruptcy or consumer proposal you'll be looking closely atyour money anyway so use this time to get a real grasp on your entirefinancial situation practice self-control in your spending and savingset limits for how much you will spend per month in each category this willlikely mean making some sacrifices to ensure your budget balances the totalamount being spent does not exceed the total amount coming in however berealistic don't tell yourself you're going to stop doing things you enjoyaltogether instead cut down on how often you do them for example budget for ameal out once a month rather than a couple of times a week while inbankruptcy or a consumer proposal any excess money you earn is going to go toyour debtors that may make it seem impossible to save that doesn't meanthough that saving money shouldn't be in your planas soon as you were discharged from bankruptcy or your consumer proposalstart saving money every month work a specific amount we recommend 10% intoyour budget so that you learn to live within that new budget setting upautomatic payments and transfers into your savings account on payday willensure your money goes where it needs to before you even have time to think aboutspending it as you can see the bulk of bankruptcy recovery is forming goodhabits of discipline and self-control once you have made these core habits inyour life you'll find the next stage of recovering from bankruptcy building yourcredit relatively easy step to work to rebuild your credit after bankruptcy orconsumer proposal many people believe that you can only start rebuildingcredit once you have completed a consumer proposal three years or abankruptcy seven however you can actually start rebuilding credit rightaway here are three of the easiest ways to rebuild credit after bankruptcysecured credit card you put up a security deposit in the form of cashwhich acts as collateral to secure the credit up front a secured line of credita secured line of credit is revolving credit that is secured by money youoffer up in the beginning these lines of credit are available through most bankscreate your own credit building programs credit building programs are one of themost effective methods at rebuilding credit after bankruptcy or consumerproposal programs like borrowing a small amount to invest in your RRSP then repaythe loan in full before the next RRSP year as you use your line of credit andyou pay what you owe on time you'll establish a picture of good money habitswhich will both boost your credit score step 3maintain your good habits for the rest of your life rebuilding your credit isnot a one-time event think of rebuilding your credit after bankruptcy like losingweight at the beginning dragging yourself to the gym and making kalesmoothies is hard work however as you start to see the weight drop it becomeseasier and easier what happens when you reach your goal weight do you stop goingto the gym and start eating pizza for breakfast no you just carry on as youare now because it's become a habit and if you slip back into old habits you'requickly going to see all of your hard work come undone your goal is to rebuildyour right and create good habits for liferebuilding credit Canada do you know anyone WH Oh needs to get back on theroad to financial recovery if you have too much debt and need someone to talkto about versus bankruptcy call the IRA Smith team we will listen to your issuesand provide you with our thoughts and recommendations for free that's right afree initial consultation so why not all you have to lose is here stressI hope you enjoyed the video the IRA Smith team is available to help you atany time we offer a sound advice and a solid plan for starting over startingnow so that it'll be well on your way to a debt-free life in no time for moreinformation on a no cost basis please visit our website or call us our websiteand telephone details are coming right up now you.