Life After Bankruptcy
Many people that file for bankruptcy report that their life is more enjoyable after filing. Immediately upon filing for bankruptcy, the automatic stay is in effect which protects you from creditor harassment and abuse. You will no longer need to spend sleepless nights worrying about when and how you will come up with the money to pay your bills. Many people that file for bankruptcy also report that they no longer suffer the anxiety, stress, worry, and depression from their debts and financial state. If your financial situation is such that we recommend filing bankruptcy, we are confident that your overall level of happiness will greatly improve upon filing as you will finally be able to put the past behind you and look toward a bright future.
Credit After Bankruptcy
Bankruptcy provides you financial relief from burdensome debts. However, it is imperative to start restoring and repairing your credit as soon as you file. The first step to start restoring and repairing your credit after bankrutpcy is to obtain a small line of credit. Many people are surprised to find that they actually have an easier time obtaining credit after filing for bankruptcy. It is often easier to obtain credit after filing for bankruptcy because prior to filing, there was a bunch of unpaid debt listed on your credit report. After you are granted a discharge, the majority of that debt has been completely "wiped out" forever. As far as creditors are concerned, assuming that you have income, you are a more desirable candidate for credit because you have a clean slate without any debt. In fact, it takes usually only one year or so after a bankruptcy discharge to acquire new credit lines.
Once you obtain a new line of credit or loan, it is very important that you make timely payments. By continuing to make all payments on-time, your credit rating will continue to improve over time despite having filed for bankruptcy.
Free Consultation
If you are considering seeking bankruptcy protection, the first step you should take is to consult a knowledgeable and experienced bankruptcy attorney. To speak with an experienced bankruptcy lawyer, contact our office today for a Free Consultation. We will review your financial situation, and help you determine whether bankruptcy is the right option for you. If it is, we help you prepare and file all of the appropriate documents, and represent you at the scheduled meetings and court appearances.