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Life After Bankruptcy

Contrary to popular belief, filing bankruptcy does not mean that your financial future is over. In fact, it’s actually quite the opposite. At Zoclaw.com, our experienced bankruptcy attorneys will address any concerns that you may have about your finances after bankruptcy. Some of the most common issues raised about life after bankruptcy include:

IMPROVING YOUR CREDIT SCORE

It is possible to being repairing your credit score immediately after your bankruptcy. You can open up an account at a credit union and make monthly payments. Once you build up a substantial balance, you can apply for a loan and borrow against your savings. Prompt payments will be reported to the credit bureaus and will reflect in your credit score.

QUALIFYING FOR CREDIT

Despite the fact that either a Chapter 13 or Chapter 7 bankruptcy filing will appear on your credit report, lenders are more willing to grant credit to you rather than an individual who is buried in debt.

RENTING OR PURCHASING A HOME

Filing bankruptcy does not mean that you have to surrender your home, unless you decide to. if this is the case, you may still be able to rent an apartment despite the fact that your bankruptcy filing will appear on your credit report. In just a few short years, you will be able to obtain a home loan and own property once again.

OBTAINING A CAR LOAN

There may be a higher interest rate on a car loan, however you will still be able to get a loan to purchase a vehicle.

To discuss any of these concerns in more detail, get in touch with one of our experienced attorneys.

 

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