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Life After Bankruptcy Archives

Moving Forward: Rebuilding Your Credit After Bankruptcy

Moving Forward Rebuilding your credit after bankruptcy v2.jpgIf you have recently obtained a discharge of your debts through bankruptcy, or the finish line to your bankruptcy proceedings is in sight, then you deserve to breathe a sigh of relief. But while you enjoy this new world where a pack of creditors can no longer harass you, it is also important to take the steps necessary to move forward with your life responsibly. After all, you now have an opportunity to rebuild your credit and work toward financial health.

Will Bankruptcy Ruin My Credit Forever? Dispelling Misconceptions About Bankruptcy

Will Bankruptcy Ruin My Credit Forever Dispelling Misconceptions About Bankruptcy.jpgWhen you find yourself in the terrible position of overwhelming debt, you may feel trapped and paralyzed. You don't have enough resources to pay off your creditors, you've maxed out your credit cards, and you've taken on terrible new loans to pay off older loans. You know you need relief, but somehow, you've been led to believe that bankruptcy is too extreme a measure to even consider.

Discharge Violations in Bankruptcy

Discharge Violations in Bankruptcy.jpgObtaining a discharge of debt from a bankruptcy court is designed to relieve the debtor of having to repay those debts. In theory, this should give some peace of mind and reassurance to a debtor that they can move forward with their lives. Unfortunately, some creditors have a hard time letting go, and end up violating the bankruptcy discharge order. If you have been granted discharge through bankruptcy proceedings, it is important to be mindful of what a discharge violation looks like and what you can do about it.

A Checklist for Your Post Bankruptcy Life

A Checklist for Your Post Bankruptcy Life.jpgThe choice to file for bankruptcy is a difficult one. In short, bankruptcy proceedings are not a pleasant experience and involve a lot of hard work and difficult decisions. However, once you get to that well-earned finish line and obtain a discharge order, you really have an opportunity to take some control over your financial future. In doing so, we would recommend that you consider the following ideas:

After Bankruptcy: Plan for Good Financial Health

after bankruptcy plan.jpgIf you are considering bankruptcy or have just filed, you are probably looking forward to exiting a dark time. Financial problems can happen to anyone-but no matter the level of accomplishment or income you may have achieved, people often feel embarrassed when they file Chapter 7 or Chapter 13 bankruptcy. Hundreds of thousands of people file bankruptcies every year in the United States, often doing so after years of struggling to keep up with the ever-increasing cost of living. And as you may have experienced, mild financial problems escalate quickly when an unexpected (and expensive) event occurs like the loss of a job, illness, divorce, and more.

After the Bankruptcy Discharge: Forging Ahead on a Positive Note

after the bankruptcy.jpgWhile many still see a stigma attached to the process of filing for bankruptcy, just as many debtors (and some in the public eye) are completely upfront about their financial struggles. You may have friends or family who have filed after extreme financial challenges. While they began the process in a state of stress, once their debts were discharged you may noticed them announcing their joy on social media, calling loved ones, and celebrating overall. This is indeed a time for rejoicing, as the discharge of debts represents a clean start and new control over finances.

Buying a Home After Foreclosure or Bankruptcy

If you have filed a Chapter 7 or Chapter 13 bankruptcy, or you have gone through a foreclosure, you may be wondering how long it will take before you can buy a new home. No two cases are identical, but how you handle your credit after your bankruptcy or foreclosure plays a significant role.

Post-Bankruptcy Credit

When you emerge from a personal bankruptcy and the overwhelming burden of your debt has been lifted, you can relax some. However, it is important that you don't fall into the trap of thinking that your work is done. As soon as possible, you should begin rebuilding your financial stability as well as your credit score.

Will I Still have to Pay my Car Loan after Bankruptcy?

If you are planning to file for bankruptcy protection, you are probably wondering what will happen to your secured debts, such as your home loan or car loan. A secured debt is created by any loan where you have pledged an asset to the lender as collateral. If you fail to make your payments on a secured loan, the lender is granted the right to seize or foreclose on the collateral.

Can I Lose my Bankruptcy Discharge?

Once you obtain your discharge order, can you finally breathe a sigh of relief? In the vast majority of the cases, the answer is "yes." However, there is a small area where a creditor or the trustee can seek to have your discharge revoked. This complaint must be based on the ground of fraud in your filing and it must be lodged within a year of your discharge date.

Our bankruptcy attorneys will help you escape debt and
face the future with optimism.

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