If you’re considering filing bankruptcy chapter 7, you might be wondering if this will be the end of your financial future. Actually, filing bankruptcy chapter 7 is not the end, and even if it takes some time to be removed from your credit report, it can be an opportunity for a fresh new start.
1. Start a new business that requires little capital. If you don*t need financing, your chapter 7 has no impact on your new business. There are a few home-based businesses that you can start with little financial investment like housecleaning, landscaping services or a different type of online services.
2. Write a comprehensive business plan. You can find a variety of resources and inspiration for new business owners and also you can ask the help of a successful business owner you trust.
3. Ask family or friends for loans to get necessary funding, ask someone you trust with good credit to co-sign for a loan or try to find funding on the internet, presenting your business ideas.
4. Find ways to advertise your new business online and with fliers for free.
5. Obtain the necessary permits for your business. You can request an Employer Identification Number from the Internal Revenue Service even if you filed bankruptcy chapter 7.
6. Use carefully and judiciously any new credit you receive and make sure that you are paying all of your bills on time.