Life after bankruptcy? Yes, there is life after filing bankruptcy!
Filing for Chapter 7 bankruptcy can be a frightening experience. One of the main fears people have is the fear of what is going to happen to them after they file.
Here are some of the many positive things that will result from your filing for Bankruptcy relief:
- Creditors and collection agencies will stop bothering you. Your phone will be quiet again. Creditors who continue to call, bill or write you are in violation of federal law and can be sued for monetary damages.
- You won’t have to be afraid of wage garnishments. The income that you should receive will again be yours to keep.
- All dischargeable debts will be wiped out. This allows you to get up to date on other payments like your rent, mortgage, utility, auto payments, or other bills.
- Your credit score will start to improve.
You’re probably asking, “How can my credit score improve after I file for Bankruptcy? That seems impossible.” But in most situations, this is what really happens. Most people who file for Bankruptcy are behind on their payments or they have defaulted on loans or credit cards. Some people owe large sums of money to several creditors who report these debts to the credit reporting agencies. All of these delinquencies shows up on your credit reports.
Once you file for Bankruptcy relief the credit reporting agencies must remove the late payments and the defaulted loans from your credit report. Now they are simply reported as “included in Bankruptcy”. Yes, Bankruptcy will be viewed negatively by those who review your credit report, but it won’t make it substantially worse. In fact, many people have been able to get loans, mortgages and lines of credit very soon after they filed.
Perhaps you have some questions. You can reach my by phone at 760-523-9090. Or just click on the ORANGE “Contact Me” button at the top of your screen. I’ll contact you back and make arrangements to meet with you.
Talk with me. I’ll treat you like a friend.
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