Life After Bankruptcy
Life After Bankruptcy
Mesa Bankruptcy Lawyers Assist with Life After Filing Bankruptcy
What happens after your bankruptcy is final? Most people are concerned their life will be in tatters and they will never be able to obtain a loan again. This is just one of the many bankruptcy myths that abounds and it is quite false. In actual fact, after your bankruptcy is final, you are debt free and ready for a “fresh start”, (with the exception of those debts which are exempt from bankruptcy, such as taxes and student loans). Being free from debt provides great relief to most individuals who have gone through the process. With proper guidance and financial advice from an experienced bankruptcy lawyer at My AZ Lawyers, you will be able to get back on your feet and on the right track. Our dedicated Mesa bankruptcy lawyers will help you get a positive start to your “Life After Bankruptcy”.
While your credit history will reflect a bankruptcy for a number of years and your credit score will go down immediately, once your bankruptcy is final you can begin to improve your score right away. Applying for small secured credit cards or department store cards that you repay in full each month may bring you higher interest rates, but will allow you to re-establish your credit rating. Filing for bankruptcy in Mesa, AZ provides individuals and families with an opportunity at a fresh start. Contact our Mesa bankruptcy law office to learn more about how life is after filing for bankruptcy.
The following is a list of several things you can do to rebuild your credit after filing for bankruptcy in Arizona:
- Pay your bills on time!
- Open a new bank account, make regular deposits
- Apply for a new debit card from your new bank account and use it responsibly
- Avoid Payday Loans
- Live within your means!
- Make wise choices when seeking credit, avoid high interest
- Paying all bills in a timely manner
Establishing Credit After Filing Bankruptcy
There is life after bankruptcy. While filing bankruptcy in Mesa does provide you with a financial clean slate, it does not free you from the usual rules of commerce and finance. If you have a mortgage payment or car payment, you will still need to pay them following your Chapter 7 or Chapter 13 proceedings. After bankruptcy it will be more important than ever for you to address all of your financial obligations in a responsible manner, so that you will have the best chance of re-establishing your credit after filing for bankruptcy protection. Your action will affect your future credit opportunities.
Most people are able to obtain good credit in 2 – 3 years following filing for chapter 13 or chapter 7 bankruptcy. Smaller loans like an unsecured or secured credit card are typically available to consumers with regular income within a few months or filing bankruptcy as the credit card companies are willing to extend you credit after bankruptcy because you are basically debt free. Car loans are also readily available following bankruptcy but are usually at a higher interest rate. Home mortgage loans will typically take 2 – 3 years after bankruptcy before you will be able to qualify, in some cases as little as one year, so long as you meet other financial requirements established by your bank. Our Mesa debt relief experts can assist you in establishing credit after bankruptcy.
DISCLAIMER: The information you obtain at this Mesa Bankruptcy Law web site is not, nor is it intended to be, legal advice. You should consult a Phoenix lawyer for advice regarding your individual situation. Our Arizona Bankruptcy lawyers and staff invite you to contact our Arizona Bankruptcy Law Firm and welcome your calls, letters, and electronic mail. Contacting us does not create an attorney-client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established. Thank you for visiting our Mesa debt relief web site. There is Life After Bankruptcy.
Our Mesa bankruptcy Attorneys are located in Mesa, Arizona, Phoenix, Arizona, and serve bankruptcy clients in Mesa, Scottsdale, Phoenix, Glendale, Gilbert, Queen Creek, Tempe, Chandler, Pleasant Valley, Avondale, Cashion, Casa Grande, Surprise, Prescott, Marana, Tucson, East Mesa, West Mesa, Fiesta Mall Area, Dobson Ranch, Las Sendas, San Tan Valley, Superstition Springs, Signal Butte, Alma School Road, El Mirage, Peoria, Sun City, Sun City West, Tolleson, Youngtown, Flagstaff as well as Pima, Pinal, and Maricopa County.