Life After Bankruptcy

Houston County Attorneys giving you your life back after Bankruptcy in Dothan, Taylor, Columbia, Daleville, and throughout Alabama

There are several common misconceptions surrounding life after bankruptcy.  Many people believe they can never re-establish their credit, or will never own a home, car, or credit card again. This makes them reluctant to file for bankruptcy and avail themselves of the protections to which they are entitled under the law. Fortunately, many of these fears are unfounded, and shouldn’t prevent someone from considering bankruptcy as an option when strapped with debt.  Getting out from under piles of debt and high monthly payments can give a struggling debtor the freedom and flexibility needed to begin building wealth, credit ratings, and retirement savings.  Doing nothing about your debt is the worst thing you could do, as your credit will never improve. With bankruptcy you’re dealing with your debt and starting back over with a clean slate.

Of course, the fact of bankruptcy is not “wiped away,” and carries with it its own legal and practical implications. For one thing, the bankruptcy will show up on the debtor’s credit rating for the ten years following the discharge, however if an individual does nothing about the debt owed, their credit will be poor for much longer than 10 years.  A person recently discharged from a bankruptcy is in a prime spot to rebuild their credit. Credit offers will be forthcoming, and you’ll be debt free, so be smart and work toward building your credit.  Because all the other debts are gone, and that the law says a debtor may not receive another discharge for the next 8 years, the lender actually has some assurance that a person who has recently emerged from bankruptcy will be able to pay and cannot file again.

Dothan bankruptcy attorneys Boles Holmes White can help you formulate a post-bankruptcy plan for financial success, and provide credit counseling to help you reclaim your life after bankruptcy. We have no “former clients” at BHW – only clients who do not currently have cases pending. Email us or call our bankruptcy attorneys today at 334-366-6086 for a consultation and let us put our experience to work for you.

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