One thing you should always allow for when planning your credit repair process are unforeseen financial emergencies.
Even something as little as having to take your pet to the vet could place enough strain on your finances to make payment of debts difficult.
Bigger problems such as job loss and sickness will have a bigger impact and it is difficult to allow for these situations when you are already financially stressed.
Unfortunately financial emergencies happen to almost everyone at some time or other and it always seems that when the chips are down more things go wrong in your life.
Most cases of bankruptcy occur when financial emergencies happen and are unable to be coped with and these can range from sudden unemployment, divorce, medical bills and lawsuits.
There are some steps that you can take to allow for a smaller emergency and these should be planned in advance so the impact of such occasions can be handled in the correct manner.
Make a list of all your assets and beside them write down which ones you can liquidate quickly and what you would expect to get from the sale of those assets. Don't be overly optimistic when making these calculations, as you will usually get less for an item when it needs to be sold in a hurry.
List any luxuries that you can eliminate from your life to save money and consider getting rid of them sooner rather than later so you can get into a better financial position before anything happens. Use that money to reduce debt and you will be able to cope better when something happens.
Add to this list any ways that you can get immediate cash in a hurry to cover debt repayments until you can get other aspects of your life sorted and see if there would be any opportunities for extra short term employment to make ends meet.
You will often find that once you start considering the possibility of problems you will find ways to help cope with them that you might not think of in the times of stress.