You have determined that bankruptcy is right for you, but what happens afterward?
It is important to consider what elements of your life led you to bankruptcy, and what steps you can take to prevent these issues from arising again. You also may be concerned about how to rebuild your credit so you can return to life as usual.
I can help you through every stage of bankruptcy, from your initial consultation to your life after bankruptcy.
I handle every case personally, and my experience from filing hundreds of bankruptcy cases law makes it possible for me to help address your legal concerns and advising you on what steps to take to rebuild your life once your bankruptcy has been completed.
Call my office and I can walk you through the bankruptcy process – initial consults are always free.
Santa Rosa Credit Repair Attorney
Many people are concerned about the consequences of filing bankruptcy. They worry about their ability to obtain a credit card for daily needs, to buy a car or home, or to get a loan that does not have unreasonable and astronomical interest rates.
There may be limitations in some of these areas, but for the most part, people who file bankruptcy find their financial situation has greatly improved.
Rebuilding your credit starts with obtaining a either a gas card, or a secured credit card. Gas cards have low limits, so they are often willing to open an account despite a bankruptcy. And a secured credit card is where you open a credit card account, but pay money into it in advance. The charges you make are taken from the money you already paid, but it still appears on your credit report as an active account in good standing.
In the future, you will be able to buy a car or buy a home. It will take some time for your credit to heal, and you will probably pay a higher interest rate because of the bankruptcy. My experience has been that it is between 1-3% higher. However, after 2-3 years, the credit effects of the bankruptcy start to diminish gradually. After 7 years, it is removed from your credit report entirely.
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