Life After Bankruptcy

HOW WILL BANKRUPTCY AFFECT MY LIFE AFTER FILING?  

Your credit report reflects your financial ability lack of ability to pay your debts. If you are unable to pay your debts in a timely manner then this will be reflected in your credit report. If you take the necessary steps to correct your financial situation your credit will be reported in a positive fashion by the creditors. Generally it takes about 18-24 months after filing bankruptcy to establish good credit and for it to be reflected in your credit score. Some employers will pull your credit when evaluating you for possible employment. Credit worthiness is most likely to be considered in evaluating candidates for management positions or financial positions such as in banking jobs.

HOW LONG DOES A BANKRUPTCY TAKE?

A Chapter 7 bankruptcy case can take between 5-8 months. A Chapter 13 bankruptcy case can take an average of 3-5 years to complete.

BANKRUPTCY CAN:

1) Allow you to regain financial control. 2) Reduce stress in dealing with your finances. 3) Improve your credit and allow you to borrow responsibly and for less interest. 4) Give you the fresh start you need.