Life After Bankruptcy
There are many myths about what life after bankruptcy is like. Those considering bankruptcy often hold misconceptions about filing for bankruptcy that are simply not true. Common misconceptions include that they can never buy a house after declaring bankruptcy, that they can never buy a car after declararing bankruptcy or that they can never use a credit card again after bankruptcy.
The truth is that although bankruptcy will affect your credit score for several years, not paying off your mounting debts on time will also negatively affect your credit score. While avoiding bankruptcy will lead to an undetermined number of years of bad credit and struggle, filing for bankruptcy offers you the opportunity to make a fresh start, reclaim your paycheck and rebuild your credit. If you make smart choices in the months and years after declaring bankruptcy, you could qualify for loans with good rates and terms long before your bankruptcy drops off of your credit report.
See these pages for additional information:
Can I buy a car after bankruptcy?
Can I buy a house after bankruptcy?
Can I obtain credit after bankruptcy?
{ 1 comment… read it below or add one }
HI my name is Janet Thomas. I read your informtion about bankrupty. I am deaf, can read lip pretty good, would like to make appt with you. Discuss about how to file bankrupty. I would like to get interpreter for me when make appt. or could write to note back and forth. thanks.
I live in Spartanburg county, SC (Greer)